re: OT Watch Gurus, would you pay $1200 for this Rolex? Update in OP

It's hard to tell from the picture but it looks like an 1675. It's probably legit, and the price is probably in line with what they typically sell for in that condition. I'd plan on having $4,000 in it by the time it's all said and done. It could get even more expensive if you want to wear it on a bracelet and not a strap. Personally I think the chipped bezel insert and patina on the dial is cool so I wouldn't do anything other than get it running. But if you want it to look nice you're going to be spending a lot of money.