This is sort of the missing link between the wooden-action squared boxes of the 30's, and the streamlined aluminium-action boxes of the 40's.
A friend of mine has a box identical to this one, and I've had the chance to do some work and tuning on it.
The box is quite large, despite being a 3 voice no coupler model, and it does feel a little bulky until gotten used to. The action is made of thin alu levers embedded in wooden slots; quite simple, but funtional and smooth (if you like small buttons).
But the sound... Man... These boxes, or at least the one here in Denmark, sounds close to perfect. Crisp, light, and with that huff-puff of the 30's. It does, however, not have the volume or cut of the grey paolos, but for 'regular use' I find it perfect.
And no, he does not want to sell or trade it to me, but I sure have tried!