The rider of this frame has long legs and a short torso-hence the longer head tube. Hopefully, this cockpit will allow the use of a road stem flipped down with no spacers. The tubeset is almost entirely Columbus 'Life' and the frame is well below 4 lbs.
Yes, those are stainless steel investment cast dropouts. Am I softening my stand on stainless ? In this case, yes. I think that there is some stainless hardware for framebuilding that works pretty well. I'll probably never build a frame with a stainless BB shell or head tube but dropouts are a practical and sensible use of stainless steel.