Tom: It looks to me as if your bike started out as a model 172, which would be 531 on the 3 main tubes. During the boom years, components were not always something that matched the catalog specs as they went with what was ready to assemble. The decal situation originally should have had a rather ornate shiny foil champion du monde, championate de France, etc with very tiny world championship stripes on the top and bottom done in a wavy shape which formed the edge of the foil decal. I also think the smaller one on the down tube is correct and there would have been nothing on the top tube.
When I requested replacements for a 172 from Follis in the early '80s, they just sent me what they were applying at the time; there were no period decals available, nor were there any badges for rivets. They were not interested in preservation, just the new stuff, apparently. What baffles me most about yours is the lack of any chrome socks front and rear, as this model and the next model up should have had both or did your painter mess with this too?
Ken Wehrenberg, Hermann, MO USA