Better photographs would help. I lean towards real.
It is never "worth trying to restore" because the monetary cost is always greater than the worth of the watch in circumstances such as yours. That said... the decision is not logical or fiscal, it is emotional. Only you can decide whether the cost is worth your familial connections, and so forth.
The standard advice is to take your watch to a watchmaker and ask that the case back be removed so you (or she) can take pictures of the markings on the caseback and the movement.
Once you can do that, much information can be gained. Until then, all you can gave are guesses, though some of them will be astonishingly accurate.