The dagger is a fine, typical Pack SA with a beautyful red grip.
For the writing of the inscription, I would ask Gailen and/or Pat if it is correct.
Personaly I have never seen such a deep R�hm inscription. If the makersmark would be as deep, would it still be readable? Can you image if this blade would have the inscription ground: what would have been left of the blade?
One other thing: the blade appears to be stronly cleaned around the inscription, I can see no crossgrain (could be the pictures) only many scratches... but the inscription has kept all of its darkness?
These are just a few thoughs.. not to say this dagger is no good. But it is at least a very uncommon full R�hm...