Nice score!
Looks like whoever had it originally must have had it in a high-wind location, where the lid kept blowing off. Can't think of any other way that so many big chips and bent-up handle would have ocurred.
I think that if I was looking for a kettle, I almost prefer the old 3-vent setup over the "one-touch". I would bet it may allow for better regulation of temperatures - particularly when using it in windy areas, because you can shut-down the windward-side vent independently of the others. Maybe also for multi-zone cooking?
I also remember someone else discussing the old-school ash-catcher that hooks onto the legs. If you remember that thread - Jim's pictures show exactly what I was trying to describe.