Precancel Stationery EFO

There are precancels created as postal stationery items, but most of the fun ones are regular stationery items overprinted to make them precancels. There are two errors in this one.

What are the two errors?

You're not even going to try?!

Gotta give others a chance first.

Ok, I'll give you one: the section reference to the P.L.&R. is wrong.

MArking is upside down. Space should go over embossed head.

In addition to the inverted precancel on the scan shown above, I suspect the "hint" about the P.L. & R. (Postal Laws and Regulations) is what is being cited here as an "error". Unfortunately, there are numerous P.L. & R.'s printed on postage indicia for various levels of service, and since some have changed through the years, it's hard to pinpoint what would have been correct without a date of reference.

As for the P.L. & R. as I read it on the above scan, it looks to be Sec. 346.66. I believe it would be wrong and the intended Regulation would have been 34.66. So the error is that the precancel contains an extra "6" before the decimal place.

Here are a few of my old meters and postal stationery cuts that refer to the various P.L. & R.'s used through the years, including 34.65(e), 34.66, and 562, which is what I used to come up with this explanation:

The P.L.&R. section reference should be 34.66. I don't collect precancels in general, but I scoured the catalog of the stationery version of precancels and found no reference to 346.66. 34.66 references abound. Guess I'm making an assumption here, but it's one I feel confident about.