Calling All 1601 Experts

[Gray_Panther]

Gents,
This Datejust requires a little backstory. This belongs to my grandfather who got it in the early 90's from a customer at his restaurant. Already it sounds like it was stolen, and I wouldn't be surprised if it was, nevertheless he paid for it and he also has the box and papers stashed away somewhere in the house.
I asked him to borrow it for the weekend and he said it was mine to take whenever since he wants to hand it down to me after he passes.
The first time I examined it earlier this year, I thought it was a flat out fake just looking at the dial and the bracelet. I brought it to my AD to have them just look at it and they also claim it is a fake based on the bracelet and dial alone, but as they are nice people they said that the case and movement may be authentic.
But after discovering this forum and digging more into it, I am not sure that it is a fake. So I went and bought a tool to open the caseback and to my surprise it is a real movement!

This leads me to believe that the watch was brought in for service and the dial was replaced with a knockoff for whatever the reason. This was the early 90's and there was a lot of shadiness going on, still is but I digress.
The bracelet has the folded links, which may or not be authentic which is why I am here posting the below pictures to see what you experts have to say.
















The next step I would like to take is replace the bracelet with a black leather strap and gold buckle if the bracelet is indeed fake. And take it into a reputable non-Rolex service center to replace the dial and do an overhaul on the movement and seals.
This watch has never been polished or even cleaned except for the courtesy steam cleaning my AD performed. It has some damage and chips on the acrylic but I like it that way. Gives it character.

Let me know your thoughts!