There's very little difference between the 92-94 bontrager and the later models.
Same gussets, same milled headtube, same removable brake bosses.
The main difference is the rear seat stays which changed to a one piece set up rather than a segmented one.
I believe that was spun at the time as an improvement due to Treks greater purchasing power, but it's more likely it was pushed as an efficieny measure.
The other change was the positioning of the front mech cable stop, but that was due to top pull mechs arriving, eliminating the need for a cable roller for those builders who wanted to use top tube cable routing.
I've seen no evidence the rubber tubeset changed, the race light was being promoted as being significantly lighter than the race right til the end.
Given the existence of various suspension and aluminium/steel prototypes, I think it's fair to say the racelite would have changed all a lot of it sorted stayed in production.
Maybe we would have seen a bontrager "cotic flaremax" steel full sus 20 years earlier!
Others with a closer connection to the brand ( I'm just a fanboi) may have a better view