I am certainly not one of the more knowledgeable on the Dayton's, but I am going to say it's a fake.
In my opinion there are many parts that just don't look right. The dial looks wrong, the bezel insert looks wrong, and also the bridges look too new and like they have been added, so I say it's all a franken, but a nice one.
Like I said, I am just having some fun here and I am not an expert by any stretch of the imagination.