Nick,
Put film in it and check your long exposures. The viewfinder exposure time is just an approximation for your amusement. The actual exposure time is not calculated until the shutter opens.
Other thoughts on a 'new' old LX... 1) Twiddle the ASA dial up and down several times to help scrape off any oxidation on the dial resistor. 2) Similarly, exercise the aperture coupling or lens aperture to get the crud off of it too. 3) Pentax USA has done OK repairing mine...but then you're in the UK!
Not to get all defensive 8-) but Pentax UK has done fine for me. One word of caution - they seem to be keeping stocks of some parts for themselves. Taking mine into a local guy for some minor work, he informed me that the part needed was unobtainable. Later, a complete CLA from Pentax UK included the part.....
mike
