Hello gents, this is an old post and was doing some research on Lionel 700e display boards and came across this post. The name plate for the Lionel 700e display board you have is correct. 5340 is what was used for the description, and 5344 is what was actually used for the cab number of the model. There is much debate as to why Lionel did this, but I cannot find an answer. Your board has two straight T-Rail sections bolted together. This is incorrect, it should be one solid piece. It looks like someone got a hold of a reproduction name plate (or original) and a piece of oak and cut to same length as original and placed two T-rails straights together. The wood could be original, not sure without a close up inspection. The reason I bring this up as I just purchased a display board (almost $1000.00 for it).
This is my second one. I bought a display board about 6 years ago with the hope of one day buying a 700e. That never happened and I sold the display board for $900.00 ( I paid $775.00 at an auction house). Display boards are rare as Lionel made very few for their new 700e in 1937. Depending on condition, you can get one for around $700 on the low end to $1000.00 plus!
Here is a picture of the one I just bought (note the single piece of straight T-Rail).
