Bike porn

I saw that bike at l'eroica and was a bit puzzled, too. As @davidual rightfully points out, the EM logo on the seatstay was only used on bikes built in the merckx factory. Afaik, the logo was only used from 1981 on. The first series of the EM professional had the merckx signature on the seatstay caps. So a molteni bike from 1981 wouldn't make any sense since the team existed till 1976. Another odd thing about the frame is the shape of the headtube lugs since they are more rectangular than both the long lugs on 1980/81 Merckx bikes and the later shorter lugs.