Dave, I'm no expert on Gibsons,but, I think that there were several versions of "The Paul" and the earlier one
had a thicker body (1 and 3/4ths") -which is apparently Walnut. Mine is 1 and 5/16ths" (Mahogany), which is the same as an SG.

This site gives some detail http://www.guitarmuseumonline.com/04_les_paul/model10/01.htm

Very nice model, I seriously considered getting an old Paul, the coil taps must give it some real versatility and the wood finish looks great- nice one! - i'd bet she'll be worth quite a lot of money in a few years.

Mine doesn't have coil taps just the basic great neck and pickups - I was fed up and wanted a decent guitar after fuqing about with budget guitars for years and got a good deal (£425 including trading in my duff electro acoustic).
After all this time I decided that it's best to go for a low end model by a top manufacturer.. Love them Pickups :)...and the neck :D

themr_man - i haven't seen a double cut "The Paul" but £300 is good for any Gibson. Yeah he was a bit mean I suppose, but then if you leave a deposit on something, even a tenner or your watch or whatever, it means they should keep it for you especially if you get them to write out a slip saying you've left a deposit and will pay the ballance as soon as you are able, may not be legally binding(?) but it gives you the edge. Hope you find another nice guitar. :D