I agree, rather a common fake/counterfeit. For confirmation refer to numerous other examples here http://omegaforums.net/threads/dont-fall-for-a-fake-vintage-omega.6235/
Yes. It is a fake and holds nothing but potential sentimental value. "Autobahn Gold" it was called. The case is 99.9% not gold either (even if stamped like it). In fact Omega never made such marks on the outside of a watchcase (only inside of the case back). Take it to a jeweler if you like to have the metal checked for gold content but I assume it is very near nothing.