Hello Chris
This is the caliber that really put Omega on the map. It was referred to as the "Omega caliber " . Omega produced this movement in four grades A, B, C (chronometre grade) , and D ( observatory grade). Grade C and D were used as railroad timekeepers but that is another story...
The Omega caliber saw the introduction of the divided assembly system aka all the parts were made to a standard specification, up to this point one watchmaker would fully produce one watch. ( This proved so successful that Louis Brandt and Sons renamed the Company after this caliber aka "Omega" .) Each watch would be slightly different , each part had to me "slightly" modified, shimmed etc to properly fit . Due to standardization of parts and assembly line , Omega was able to produce a superior product at a much lower cost. Competing companies were accusing that Omega was dumping product on the market below cost to put them out of business... Spies were even sent to talk to Omega workers and try to figure out what they ( Omega) was doing . The other companies could not believe that it was just introducing standardization of parts and assembly line manufacturing.
So getting back to your watch , it looks to be a A grade Omega caliber ( accuracy of 2 mins a day) , B grade ( 2 mins a week) , C grade ( 30 seconds a week ) and D grade ( 30 seconds a month ) if my memory serves me correctly.
You have a piece of Omega history !!!
Good Hunting
Bill Sohne