Extremely polished down as others have said. It's nice that the CB facets are still there, and it would probably be an OK enough wearer, but I would not be looking to spend much on this one.
That flat-link bracelet is an 1175, not a 1039. With that kind of stretch I wouldn't add much value to it - but, on the flip side, it shouldn't be too difficult to have repaired since it doesn't have stretch links like a 1039 or 1506. However, I wonder about the end links which are for an 1171. I don't know how well a standard 633 end link would work with an 1175, but I suspect there's been some modification either of the end links or the final links of the bracelet in order to fit.
The other bracelet looks maybe like a Holzer jubilee?
I would say even with the box and bracelets, this watch should be priced less than a "good" example according to Speedmaster101