[sheepherder]

For my $.02 I would class it as a 'shooter' due to the electro-pencil etchings, although if you are just starting out collecting Lugers, this is an excellent choice IMO. In my mind it is a high-end 'shooter', and in my neighborhood would probably go for $1000-$1200. Buyers hereabouts don't see Lugers very often, and don't care about re-barreling as long as it looks "original". Gun show sellers will fabricate exotic stories to explain away anything that a buyer might question.

I would detail strip it, clean everything and oil the pieces, and try 'er out. Wal-Mart Winchester White Box ammunition ["Target"] is a good shooter loading. Lugers seem especially sensitive to 100-year-old built-up crud; a good cleaning will 'cure' most ills.