Had a look at the photos. It's not a Colnago, just been stickered up as one. Unchained's question about the steerer tube/fork is a good one. They can look bent in photos when they're not, but it's definitely something to make sure of. Groupset is a mix of RX100 and Exage by what I can see (I always preferred the dimpled Exage shifters, the RX100s were shiny and slippy) but I don't recognise the crankset. The groupset looks in decent condition in the photos, chainrings seem fairly fresh, cassette looks good, everything looks clean and I can't see any obvious rust which usually means it's been well looked after. Obviously you might have cleaned it up yourself but even if you did it seems in decent condition. I'd check the barrel adjusters on the brakes turn smoothly and consider replacing the cables, and possibly outers, and it needs some fresh bar tape. I'd also check the rims on the wheels and make sure they're not too worn, grease the bearings, check the seat-post moves, check stem and handlebars adjust and so on.
The brake block on the photo from the front looks a little close to the tyre. Could just be the photo but I'd also check that's sitting properly, and the other 3 are, and not rubbing the sidewall.
All in all it looks like a decent bike for the money. I can't tell if the saddle is an older Rolls or one of the modern ones from the photo, pretty sure it's a modern one, but just that saddle alone would cost you somewhere around 60-80 euros new I would think. Chuck in the groupset, frameset and wheels and I think you've paid a fair price, even if it needs a little work. Do check out that fork though.