Yes, I'd consider that a major score.
I don't know anything about Hobbs specifically but I agree, the Reynolds tubing sticker suggests a bike from the 30's and I see nothing to contradict this. The crank is presumably a Williams, which will have a date code on each crank arm as well as the chainring, a series of letters around a dagger, which you can look up on the internet. Better photos, please? Also of the stem and handlebar?
Unable to find a date code or any markings whatsoever on the cranks, but here's some pics of the stem and headset. Having trouble uploading the crank pics; it seems the files are too big.
