Do you think this eBay frame is fake?

Just a quick explanation of the stuff prior to this:

• I want a cheap frame to ride, rather than bring my nice fix from home to uni, and also to possibly play some polo.
  
• Been browsing eBay
  
• Saw this: http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&rd=1&item=280173151162&ssPageName=STRK:MEWA:IT&ih=018
  
• Thought it looked a bit, well, fake, but it was the right size and looks not too bad. Could always respray and do something nice with the lugs
  
• Win for £39
  
• Seller sends me this:
  
  
  

Before payment please note. In the Item description, i noted the campag wording was visable on the rear dropouts, this was the case before the re-spray. So appart from the obviouse campag build quality, tho only way to prove is to sand back the paint on the inner of the rear dropouts.
Ican guarantee this frame, but if you want to withdraw your bid, I understand. I tried to update the description but because auctiion was in last day, could not. Please let me know what you want to do. If you want to sand the frame back to reveal the stamp, I have a spare tin of the paint used to spray so you can touch up.

Ok, now I'm think it's just the dropouts that are Campagnolo, which doesn't really bother me, to be honest. So yeah the point of this post, is a) fake, yeah? and b) can you see anything dodgy with it?