Yes, it could be correct.

have a '69 Supra with a keystone badge and the P-83 throwoff with the script logo on both throwoff and butt plate. However, it also has the newer rotary tone control knob. Mine is stamped "Jan. 7th, 1969", so it is an early '69. Yours may be from later on in the year and thus, been completed with the (then) new P-85/assembly.

Can you post a picture of the interior flaking? It usually occurs to the outside where the chrome plating didn't adhere well to the aluminum shell.

I haven't bought it yet. Some of the flaking is in the bead and some looks like spiderwebbing from around some of the screws. The outside looks really good with only minimal pitting. I first thought they were cracks on the inside but the outside isn't damaged so I figure it is just the interior coating. I'm trying to decide what to offer for it but prices are all over the place so it is hard to get a good idea.

Does the P-85 have a foot on it that has lots of holes for snare cord to go through. Or, are there only 2 holes in the foot?

It has multiple holes in it.

That's even more reinforcement for it being an original setup. The later ones had two holes only.

By the way, the reason for the multiple holes in some was a throwback to the days of when you had to weave your snare wires through the holes! Why they ever included that as late as the appearance of the P-85 design is a mystery to me!

I always wondered that too... how many people were using gut snares in '69, '59 or even '49?