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@Sumo
I've searched a lot about these frames, the best piece of info I could find was from someone who is a relative of someone who owns one of these factories. Basically it came down to a factory owner/operator going to the security guards at one of the factories that makes genuine Pinarello's, De Rosa's etc and giving them a pack of beer for a look around their office and just copying their designs.
They then go back to their factory and produce frames with exactly the same mould. The differences come with the kind of carbon used, there is a very common kind of carbon used for most bike frames, 700 something I think, but now some higher end companies are using a different kind, 1000 something I think. Some high end manufacturers may have differently layering techniques which can't be copied by other factories but mostly it comes down to the finishing. The insides tend to be rougher with marks from the bladder and the edges may be rougher etc. Generally less well finished. You also don't get the warranty of big brands.