I suspect this watch was indeed a -69, but with an Omega service movement. I have often observed 48m serials in earlier watches that have a service history post 1970. Could be as late as mid 1985 - I don't have enough info. Pretty sure it's not passed late 1980s.
I have seen several watches with all the characteristics of 1969 - including a MkII - that had a 48m movement and a rumour of an Omega service,
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