It is a nice looking watch and it would be a shame not to get it back into service.
The day wheel looks slightly discoloured, but I can't see from the photos whether there is also water damage on the dial/hands.
Does it currently run at all?
Hopefully an expert will be along soon, but if you can't find someone to repair the current movement then IIRC the Seiko 7546 is a drop-in replacement for the 7548, and it should be easier/cheaper to source. If the replacement 7546 movement has the crown at 3pm (rather than at 4pm as on your 7548) then the day/date wheels will also need swapping over.