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Thanks for the thoughtful responses. This type of engraving appears to be a quirky footnote in Rolex Sub history. From what I've found online, there is technically no Rolex reference "168000." It's a 16800 that Rolex simply added a zero to for internal reasons, to distinguish the metals. In the first examples (early 9 millions, maybe earlier) the extra zero was sometimes engraved by hand, and after around 9.6 million it was always machine engraved. That's why you see some examples with perfect engravings and others (like the above example) that look a little sloppy.
You won't find "168000" in any Rolex brochures, manuals or guarantee papers, nor on case backs. It's the same reason almost all Rolex service paperwork lists these Subs as a "16800," not a "168000." There's been a lot of discussion over on VRF about this oddball Sub, for those more interested. There's also a ton of misinformation about it online, including some watch sites (Bob's, for example) that say the 168000 was first made in 1987. That's wrong.
As for the example above, it has a dial and case back specific to the 168000, along with perfectly matching patina down to the insert pearl (and confirmed via UV light). It also has a 1986-coded clasp (same as serial number timeframe), making the whole package fit perfectly. Logic tells me it's definitely a legit "168000," despite a slightly crooked zero. Also, if the case had an "unauthorized" zero added, Rolex presumably would not have serviced the watch last year. (Yes, I guess it could have been added in the past few months after the service, but that seems highly unlikely. As Paul points out above, what would be the motive?)
Here's a photo of the watch and Rolex card (with serial partly blurred.) It appears close to a time-capsule example, and the previous owner told RSC not to polish it. The dial is also pristine, escaping the common issues with these early gloss dials (spidering, crazing, spotting, etc ...)
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