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Well it's legit which is a good start. Don't pay LE money for it though if it is a loose watch with no box or papers as much of the additional cost and value of an Limited Edition like this resides in having the full set. If it needs a service (and somehow they always do) you need to factor that it as with the Reduced you have have an err reduced number of options vs other designs. Well fewer cheap options anyway.
As you have probably spotted, the strap isn't original either so maybe factor that in. Trying to source a bracelet later woudl be eye waveringly expensive, a strap less so but still not cheap so make sure you have considered this.
Sorry if I sound negative but sometimes the cheapest option is often not that when all is told. Perhaps if you told its what the 'good price' was we could comment further.