First, I am in absolute agreement with David regarding redressing the blade in question.
While we still discuss this keris I have bought a keris in a similar dress/sarung in a little bit better form and with a good blade IMHO. See here:
http://www.ebay.com/itm/Antique-Kris...vip=true&rt=nc
By this I have the same question like David (who as well own a keris in a similar sarung): Was a keris in such a sarung ever acceptable for Bali people to wear it? Or was it only a way to sell a single blade, equal which quality, to tourists?