which stumpjumper is this?

[scant]

Epic -> Steel lugs
Epic Ultimate -> Titanium lugs
Bike spyder -> Titanium lugs

Iirc the early Ulimates had the lugs sprayed black like the rest of the frame. But I'm not 100% sure.

Just a friendly clarification, in 1990 Specialized offered an "Epic Ultimate" that was their steel-lugged Epic with WTB parts and XC-Pro. I don't believe the ti-lugged version was offered until 93, and that was named the "S-works Epic Ultimate." S-works being the division of Specialized that worked with Merlin to develop the lugs.

mike, the ti lugged ultimate was available from at least 91. kai's 1991 titanium lugged epic ultimate.
viewtopic.php?t=14081

 

[scant]

92 ti lugged ultimate http://mombat.org/MOMBAT/Bikes/1992_Spe ... imate.html

 

[scant]

in 1990 the epic & the epic ultimate had the same frame, but as mike said, the ultimate had the better/more expensive parts spec
http://www.mtb-kataloge.de/Bikekataloge ... ikes90.pdf

 

[scant]

91 epic ultimate (ti lugged) info http://www.mtb-kataloge.de/Bikekataloge ... buch91.pdf

 

[Thias]

So the Ti lugged Epic ultimate was already in the market by 91.