Is this old Seamaster 300 worth restoring?

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Beautiful watch, congrats ! Not sure if anything can be done to stabilize the bezel at 45 so it doesn't deteriorate any further?
 
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You’d be surprised what a new crystal alone would do to upgrade the looks.

As others mentioned, seek an independent watchmaker who specializes in vintage. There’s no rush to get this right, so take your time with possibly irreversible decisions.