I have a couple and like them. I think you're close on the date, in view of the full flapped sheath and the flat look to the sides of the butt cap. Later caps look slightly contoured.
The difference is very subtle, but present if you know what to look for.
I paid $65 for a used one made about 1980 or so and it got sent back to Buck for a complete refinish, which they did quickly and superbly. It looks almost new. Can't recall what they charged, but surely not much. The only flaw is that a very tiny pit had been dug into the Micarta/Buckarta handle from some object that had hit the handle. They buffed out almost all of that, but couldn't get deep enough to get the whole ding without creating a bigger gouge where it is. If you know where to look and the light is just right, it can be seen. But such handling marks are common on using knives and this one is tiny and the knife otherwise now looks new. I dyed and polished the sheath, which needed it, and it, too now looks good.
My other Model 120 was bought new and has never been used, to speak of. At least, it shows no blemishes at all, having seen light duty.
The Model 120 is among my favorites in the Buck line. I don't think they make it now unless a big retailer places a large order. The same basic model with six-inch blade (Model 119) is still their best seller in sheath knives and is an exceptional buy in a combat-utility-survival Bowie. I've read that Wal-Mart has them in synthetic sheaths with plastic liners for under fifty bucks. That's a very good knife indeed for the money. The steel is now different, but is easier to sharpen and still holds a good edge. These are made here by Buck in their own factory and are NOT Chinese imports, as some have claimed. But other firms have deliberately copied this knife in the Orient, so be sure that you're buying the genuine Buck.
The Model 120 is a large knife, but in its role does well. A smaller knife for finer use is desirable, but the Model 120 will handle larger jobs and is capable of general use as a survival knife. Buck's catalog used to say that it was popular among soldiers, and I bet it was.
Thanks for the photos. And congratulations on acquiring a good knife not easily found new today.