Hi Steve,
Welcome to the Forum.
An American Eagle marked Luger is a rare variation and is generally collectable, especially if it is all matching and the finish is in good condition.
Changing out the barrel drops it's collectable value considerably. You would do financially better to buy another Luger as a shooter to shoot.
The lands on my 7.65 Luger (.30 Luger) pistols are not that deep. They should, of course, be visible.
Marc
__________________
 Igitur si vis pacem, para bellum -
- Therefore if you want peace, prepare for war.
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