I own 2 1971 Spiders. They do indeed have the crab claw seat belts with the hoop. Being that these are so unique and interesting, I wouldn't change them out to a more modern seat belt unless of course you actually drive one on a daily basis. I'd then keep the original stored safely away. As far as what is embossed on the loop, both of mine show "Alfa Romeo Spider KLIPPAN 1970"