Found this terrific photoset on Wired, with the following description:
Unless you're a deeply geeky watch aficionado, a frequent patron of Barney's or a protesting student during the French labor strikes of the mid-1970s, then you've probably never heard of Lip. Time to get educated. Thirty-five years ago the European watch manufacturer pioneered some of the geekiest tech and most innovative design ever found in a timepiece. But all was not to be well for Lip. A volatile political and labor climate in France shattered the 141-year-old company and led to it being closed for nearly 15 years.
After numerous false starts, Lip was jump-started back to existence in the 1990s. Since then the watchmaker has enjoyed a quiet resurgence by returning to its nerdy roots and hiring back many of the original designers of these timepieces. These reissued watches are both technically and physically identical to their DeGaulle-era counterparts.
This above watch was originally conceived in 1973 by Roger Tallon, designer of the TGV high-speed train, the Lip 200 "Dark Master" set the design standard that all Lip watches would follow for the next 30 years.