I got some fakes from a big warehouse in Shanghai. They had all levels of prices/quality. Our corporate guide found the shop for us. They had a whole wall of fake watches of different brands. My ex-wife got purses. I much preferred my real watches, but the fakes were for fancy dinners downtown in the big city in case I got mugged.
Is the escapement running at the same rate? A big part of the "rolex" appearance that is very hard to copy is the 8 ticks per second that the second hand goes through. I have seen very high quality Rolex copies before that don't do that, and are instantly recognizable as a fake to people who know a little bit about watches.
Absolutely. Modern fake Rolexes can only be told apart from a real one by an expert examining it with a loupe. And 8 tick pr second isn't that hard to replicate. Several ETA and Sellita calibers do it as well.