New to Rolex & watches in general - Questions re: maintenance of older watch

[TXranger1837]

Hello, everyone! I hope I don't ask too many dumb questions.

The watch I am inquiring about is a 1991 Datejust. It's my dad's watch. He received it as a gift from IBM for his 25th anniversary with the company in 1992. That was the last year IBM offered a Rolex as a gift option. He wore it for a couple of years before the winding stem broke completely off. It hasn't been used since.

I pulled it out today to look for any bad scratches, other than the stem damage. There are a few wear marks on the bracelet (especially the bottom of the clasp). I noticed some more surface scratches on the body of the watch, but not the crystal.

I'm not in a position in my career where I would be able to purchase one of these fine watches, but would like to get it in working order, at least.

For standard maintenance plus replacing those damaged parts, does anyone have a guess at the cost of sending it to Rolex Dallas? I know standard is about $500, but this is obviously going to be more.

Also, the back of the watch is engraved with my dad's name and the IBM crest. Will they be able to freshen it up without removing the engraving?

Would it be a bad idea to take it to a local certified Rolex jeweler and get it in working order? The idea is pay less now, but get it working and enjoy it for awhile before biting the bullet on the bigger payment. I know this may not be the preferred option.

Here are a couple of photos I took tonight. Sorry about the cell phone shakiness in some of them.