Its butted.... Mix of true temper ox plat/gold....... I was taught by Kelly Bedford, if you like lugged frames he's your man... He built the Serotta tour de France lugged team bikes. My next bike will be a SS lugged frame.
Very, very nice.
I'm familiar with Mr. Bedford's work. Beautiful stuff.
I do like lugged frames best (my current do-everything bike is a 1988 Gios Compact built up with a Sturmey-Archer 5spd IGH), but I'm not a full-blast lugged snob - my all-time favorite bike is my Jamis Sputnik FG, welded up from 631 tubing.
Do you do the bike stuff for a living, or as a hobby? Do you post on bikeforums.net?