It's quite the watch in the flesh. Had a chance to try on a TRF member's WG YM II this weekend at the London meet-up, much more subtle than pictures would suggest. Nice wrist presence, sits quite low, and very comfortable. I was also able to try on the new steel and rose gold model, again, a really nice looking watch, the pictures don't do it justice. The cal. 4160 is the most exciting thing Rolex have done for a long time
I've seen one of these in person, at the Sanctuary Cove Boat Show here in Queensland, Australia, there were Rolex's everywhere, but as I was getting some rather overpriced hot chips and gravy (weak gravy too, very runny), the guy next to me in line was staring at my 1680 Submariner, I looked at what he was wearing, and sure enough it was a Rolex Yacht-Master II in Yellow Gold Ref 116688. The writing on the bezel is not noticeable at all, and it wears much smaller than you'd expect. Very normal sports watch size and very cool to look at. He told me he paid retail in Brisbane ($60,000 AUD) which is Approximately $66,000 USD. OUCH!