Hello
I suspect at some point the rod was completely re-wrapped ,I based my opinion that the Phillipson rod has been re wrapped at some point because.
"Metallic single thread wraps were not used on Phillipson rods originally."
That's a more current trend,your rod would have had a base wrap possibly with a tipping at the outer ends.
You might want to do some research and have the rod restored to original when you have the repairs done ???
None the less the rod will be an excellent addition to your arsenal of fishing tools.
The actual given Name of the "Hammer Grip" is actually known as a
Welsh Style GripThe grip style predates Bill Phillipson by decades,the grip shape is actually very comfortable,however the shape never caught on because it was different,you see different is a problem for most fisherman because they have preconceived notions about whats best,We tend to stick with those preconceptions many times even when it's proven to not be the best option available.
I had a terrific conversation a few years ago with Tom Morgan about fly rod designs that the public had negative preconceptions about that were actually better in many cases than the accepted standards."The Norm"
The Welsh Grip was among the topics we kicked around.We also talked about Mixed Material Rods,Fiberglass Butts or Tips with Bamboo or Graphite Sections,Staggered Ferrule Rods,One Piece Rods,Double Built Rods,all sorts of different stuff.
The general conscientious between us was that it really didn't matter because the public has very deep rooted preconceptions and expectations they will not deviate from period.
" My grip has to be round and All the sections of my fly rod have to be the same length dam it !" Besides nowadays it seems everyone wants a rod that will fit in a brief case.
Getting back to your Phillipson
Remember the line weight is a recommendation not a designation,the rod will handle a line weight above and below the recommendation without any trouble.
The line weight you choose to fish the rod with depends on how the rod performs best in your hands.
The AIREX fly reel is a nice Bonus and a okay choice however you may want to try a Medalist 1495 1/2 to get a proper balance again depending on what feels and performs best in your hand.
At one time I was considered the go to guy for anything Phillipson,unfortunately I'm not taking in work any longer due to health issues.
You shouldn't have any trouble finding someone to help you get your Phillipson back in tip top shape .
As to a date on your rod my guess is late 50's to Mid 60's you should check the Phillipson catalog thread to get the best information about a exact date of manufacture.
Tight Lines And Phillipson Fiberglass Loops
Andy M