Hi, I've been collecting 2600 for a while, figured I'd weigh in on this because I like to be on really long threads on forums.
That label shows a lot of wear (spotting) for being in a box. I was checking out my boxed games with picture labels and none of them look like that. It resembles many of my loose games, however. Of course it could be a matter that mine are in a nice a/c house and his Air Raid was in an attic somewhere.
If you go to http://everything2.com/user/passport/writeups/air+raid, it says a boxed version was sold for $1500. Who the heck has that box? The write up was in 2001.
In the pics, one of the side shots says M707. If you were to turn 707 over on a calculator it would spell LOL. Though what the heck is LOLW?
With all that I still have a gut feeling that this is legit. I also have a gut feeling my wife would kill me if I bought that.
Good luck to whomever ends up buying this.