The early ones don't look too bad.
This one has been on the market for a few months I think
Alden 403 Moc Toe Boot - Brown Chromexcel - $680 The classic "Indy" style Alden Boot in the classic Horween brown Chromexcel. 
Grant Stone Diesel Boot Dark Olive Chromexcel - #395 Goodyear welted, Horween Chromexcel, classic good looks. 
Himel Bros. - The Ross Mk. 1 Leather Jacket Classic D-pocket motorcycle/aviator style jacket. 
Yes, I had one like this, glued label, same HH label. It looked good, nice and Shiney. I had positive comments when pictured, but in hand a lesser feel. It sold on appearance not quality.
There's one listed right now. You're right, doesn't look premium. Still nice though.
There is more to this company than the many Cafe Racers they made. They have some history. This is yet another older label and older jacket. Maybe they deserve their own thread if for no other reason----to inform the public WHO MADE THEM since I would guess 90% more of their jackets do not even have a Fidelity label in them.
I have seen a couple of nice Excelled jackets. Both of them early ones. I think of that company as similar to Reed and Fidelity in that they once made decent stuff then they veered into higher production and/or fashion level jackets and sorta watered down what they once were quality wise. Not that they were ever necessarily super premium, but their earlier offerings and later ones are night and day.
That is accurate IMO. Of the three companies I mentioned, the nicest old stuff I have seen are a few Reed CRs and the old Fidelity jackets. I actually think that Fidelity is the higher end of the three quality and reputation wise. Even their later steerhide isn't terrible for the price point you can find them for. Their Cafe Racers are nice jackets for what they are. It just seems like they made several MILLION of 'em and everyone who sells them thinks they're these ultra rare vintage MC jackets. I have not handled a vintage Fidelity HH jacket or the older steer, but they appear to be nice and of higher quality than the modern stuff. And they do probably make the best damn hanger loop in the business!!! The iconic riveted chain is almost always still intact where a leather one would have failed long ago.
This is small and splendid! Late 1940s Windward label with the correct Talon zipper. Top Grain label is distinctive. I've never seen a jacket like this in any label. Originally thought Roughwear but the pockets are different. The fancy seams looks like Monarch.
I was thinking RoughWear myself. I don't have any experience with Monarchs in person. Something about those front pockets made me think RoughWear even though they aren't those rounded edged ones that you have on one of your RWs. Part of it is the graining but for some reason the look made me think RW first. I have never seen a back like this before. Don't RoughWears have French seams also??
