Mark,
Curious to know what looks "correct" about it? My take is that it's not a Colnago. Of course, I don't believe I've seen one that predates the late 60's. The few I've seen (i.e. Mark Battley's) from that period have the skinny clubs in the lugs, scalloped topeyes, holes in?the fork crown (and different crown, too, I believe), no eyelets. If that ebay frame does predate the details I've mentioned, then the bike has been very messed with - enough to leave few obvious clues as to it's identity. Bottom bracket cable guide would have to have been added later, and the decals are certainly of later vintage. If there is a 60's Colnago frame lurking under there, I'm not sure how one would tell?
Ed Granger
Lancaster, Pennsylvania, USA