Starscream's first toy began life as "Jet Robo" from the Diaclone line, transforming into a grey, red and blue F-15 Eagle fighter jet. To transform Starscream, one must essentially take most of his plane parts off and transform his body, then reattach most of plane parts on again, along with the addition of two blue fists. If you don't mind being fiddly, though, transformation can certainly be achieved by only removing the fists, weapons and landing gear (which can store in Starscream's cockpit). Owing to the modular nature of his design and the fact that it is impossible to store all the parts in either mode, it can be quite difficult to find an intact original set of this toy.
Release in the early 80's this is the original Diaclone version of Starscream, released by Takara before Hasbro licensed the mold, and created the Transformers brand to sell them. There is a vintage knock off of this figure released under the Kingdam 6 banner that is often misrepresented as an official Diaclone toy, this is NOT one of them. The knock off is most easily recognized by the Kingdamn 6 logo running down the wings, gray vertical tail fins, and an orange cockpit canopy. The original Takara version (as you can see) has the Diaclone logo along the red wing stripes, blue vertical tail fins with an "RR" on them, and gray cockpit canopy.
The figure comes complete with both wings, both vertical tail fins, both horizontal tail fins, both fists (no stress marks on the tabs), two missile launchers, two long missiles, two short missiles, landing gear, and Diaclone driver (with the magnets still attached to the feet!). The missiles seem to be a slightly different shade of gray than the rest of the figure, and may have come from one of the Transformers Starscream releases, but still display very well with the figure (see pics). Also included are the box, and styrofoam tray. However any paperwork has been lost over time. The box does show some signs of wear from age/storage, but is still in good condition, and is perfectly displayable.