I think you do have a collectable Luger (of course to me all Lugers are collectable). The problem with the lug removal seems to be the need to confirm to the law at the time and is part of the history of this pistol. This, to me, is similar to the addition of the hold open on Imperial Lugers and in no way is considered a negative adjustment to the pistol or the removal of the magazine or sear safety in later years.
Regardless, you have a 1917 Luger in good shape with hoister. This is a great piece of history to have and pass on. My suggestion is to keep it for what it is and love it for what it represents.
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W David
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