Yes, Race is considered one step up from the Comp models.
Purists would say : "No, `96 models are no "real" Kleins anymore." As mentioned in your other post, KLEIN was sold to TREK in Summer of 1995. The official legal document can be found in the net. Trek production started in February 1996. They introduced several new models (Quantum RACE, ATTITUDE COMP & RACE, Stage COMP, etc. and colors such as Koi, Jade Chameleon, etc. all designed by TREK. However, they were allowed to use KLEIN patents as well as the "original MC2 design" including fonts and frame paintworks until 1998 - then, the original KLEIN legacy was history and gone.