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Yes, the engraved Pulsars are genuine RAF issue. However, they stopped ordering them as the crowns (and stems, I think) kept falling out in use. I believe it had something to due with pressure changes in a Tornado cockpit. My Dad has one. The build quality isn't up with Seiko, and the centre-seconds constantly counts like a normal seconds hand, and the sub registers are used for counting. The Seiko Gen. 1 is probably a very good investment still. Prices are climbing.
Exactly. I reckon the earlier "Gen. 1" 7A28 could be quite nice. It uses a very well respected movement (all metal parts), so it's fully serviceable and not likely to prematurely wear.