Ah, as I suspected, and hoped. This was an ebay purchase, would hate to think I got scammed. I'll run a roll through it and see how the exposures turn out. Thanks for the confirmation. This is a SWEET camera. Can't believe how cheaply you can find one of these marvels if you're patient and ok with a little wear.
Cut a piece of waste film off the leader of a roll and stick it in the film gate. When new, these cameras (OM2s as well) came with a piece of gray card stock in the film gate.
IIRC, the meter reads off the first curtain down to 1/30, below that it reads off the film itself.