Early production NewVaqs had the fake-case-color finish. The exact recipe varied over the years but all were...meh. Worst case they seemed to have attracted rust. My 2005-era NewVaq357 has a fake-case finish that is fading anywhere my fingers normally touch it while shooting. The gun's SN is just over 5,000. It's a smoky gray all over that looks nothing at all like real case colors and is about the only thing I never really liked about that gun.
Ruger has since abandoned this cheesy finish and I think they've actually re-done them in all-blue (same as the current finish) for customers who ask nicely and/or complain that the original finish sucked.