hello i just picked up this beautiful his excellency QQ today..i bought it from the local flea market it for a great price.....the watch is near mint other than a little spotting on the dial everthing else is fine..the case itself it perfect doesn't even really need to be buffed..also i'd bet my life that this watch has the original band,since it matches the case so very well...the movement is the 10bm and is 21j...here are some pics... Edit 2012/08/04 Date code L1 on case back and on movement.
Just a thought on price...
The average good quality mechanical watch nowadays is in the $400-$600 dollar range, offerings from Tissot or Hamilton spring to mind. Certainly something you wouldn't necessarily commit to without due consideration, they would be the modern day equivalent of the Bulovas of yesteryear. The only difference these days would be the good quality quartz, which would of course, be cheaper. maybe $2-300 ish.