Yes, Veg, I see your point... "P" for Philco. Would make better sense.
I am currently changing out caps... lots of Black Beauties in there. Found one with a big crack under the deflection sub-chassis.
I can see why they would consider this to be the top of the line series. Chassis seems well built compared to many other b&w chassis of the time. Definately a lot easier to work on than my Predicta!