I believe this is a ladies Academy Award model. I haven't found an ad with a variant yet but have a price list and crystal catalog that lead me to believe it is the "PP". Hoping an ad comes along someday to confirm.
It is 10k white rolled gold plate with a stainless back. I have installed a new CMY112 crystal and a NOS band. The dial is dirty and has patina but is still nicely visible. Both the movement and the case are date stamped L2.
This model was the AA "OO" and "PP" until 1953 when it changed to the Martha Washington "A" and "B" with "A" being yellow and "B" being white. The price list #s for the "OO" and "A" are the same 6127 and the "PP" and "B" are the same 6129, leading me to believe the "OO" is yellow and the "PP" is white. The "OO" was well advertised and would make sense it would be the yellow version. Looking forward to hearing your thoughts. Is it enough to assign the "PP" or should it be a generic AA?
The watch is engraved "Evelyn From Ted 25 Aniv. 11-30-52". Sad it has left Evelyn and Ted's family but I am happy to have it and give it a home.
This showing the "OO" as this model 
Excellent research, I would agree that the odds are overwhelmingly in favor of this being AA "PP". The change - over to Martha Washington shows that the number used for the AA"PP" corresponds to the white gold M.W. "B" and the number for the "OO" is the same as yellow gold M.W."A"
Well done! An excellent and compelling connect the dots! I have no problem calling this beauty
1952 Academy Award "PP"