If you look at the cable guides on the curved top tube, you can see they are positioned to keep the cable horizontal, suggests it is indeed designed that way
Definitely a 1990, just like mine (see link in my signature) but in adult size . I had mine re-painted and was very clear about no chemical stripping or baking/curing the paint. The guys that did the re-spray simply hand sanded and then air dried the paint and all was good. It may have coped with a gentle heat curing but it's not worth the risk f you ask me. Look forward to the updates.