I have attached pictures of this 1956 omega cal 266. And some strange writing on the inside back of the case any help would be appreciated
That "strange writing" inside the case back is what you want to know. https://www.omegawatches.com/watch-omega-seamaster-omega-ko-2791
These were made with or without the Seamaster text on the dial; I'd therefor be hesitant to label it a Seamaster. Many of the Omegas of this time didn't have a model name as such.
Movement looks like it's been abraded or "tarted up". Striations on the train bridge. Different colours on the barrel bridge compared to the balance cock and train bridge. Screws show some evidence of being worked on with wrong size drivers. Just my impression.
It's difficult to say if anyone has overpaid for an item like this. Members on this site may spend a long time finding the right piece at a good price, while others might go to a dealer from the street and spend three times that amount - one has spent a lot of time, the other a lot of money. I think it looks good and it is a reference that wears well and is robust too
It's not a reference I'm hugely familiar with. Try search for previous sales on this forum/eBay/google for an idea.
Value is what someone would pay for it. Check reference number on ebay completed auctions for value. If you like the watch, it is worth what you paid for it.