Just a quick word on the whole depth rating thing.
I never advise anyone to submerge a vintage watch, regardless of the rating. It's just not worth it to find out the hard way that it is not water resistant. Now, I'm not sure how they determined the rating in the old days, but this watch wouldn't last a minute at 333 feet.
Today, depth ratings are determined by a static test, that is, the watch does not move. As soon as you start thrashing around in the water, especially surface swimming, you need a screw down crown and a minimum of 100m. At that depth, which is also expressed as 333 feet, the pressure exerted on the watch is 11 atmospheres, or 161.65 pounds per square inch.
I tell my customers that in order to maintain the watch's rating, the gaskets must be replaced every two to four years, as well as the crystal. This was the standard advice we gave also at the depot I worked at where we saw a lot of high rated watches. Hot water would void most warranties because rubber shrinks in heat. It never ceased to amaze me how many people showered with their watches on. Even if your watch is rated, your bracelet will accumulate soap residue and the pins may corrode, even if they are stainless. If one breaks, your watch may hit the sidewalk.