[dawgie]

I own Ray's old Merckx AX and I've ridden probably 20,000 miles on it. I also own a Merckx Corsa 01 in the same size and geometry. The two bikes have the same wheels, tires and similar components and handle nearly identical. Although made by Litespeed, the Merckx ti are not simply rebranded Litespeeds. My AX has the classic Merckx Century geometry and rides like a dream. The tubes are not all round, some are ovalized.

The frame in your photos looks like a Majestic to me - which was successor to the AX. Tv_Vt's description of the Merckx ti models looks correct based on my research on the subject.