Yes, it's lovely ... based on a Wilkinson Sword design which was licensed to Henckels.
The thing with those old wedge holders is to ensure that there are adjustment screws to hold the blade down or sprung clips at the side ...
See here: http://www.theshavingroom.co.uk/forum/thread-25884.html - sprung clips.
See here: http://www.theshavingroom.co.uk/forum/thread-27447.html - adjustment screws. This is the old relation of the Henckels, which if it is the model I'm thinking of will be this razor but with a screw collar and sprung clips.
To get the right blade angle/gap it is sometimes necessary to put a little wedge under the blade ... or just make the necessary adjustment with your hand when shaving.
... if you choose to use modern GEM blades.
If you can get one, get it - it's a great shaving experience. If you hate it, I'll buy it from you