I have finally picked up my first Omega... A Watchco SM300 cal. 552 directly from Watchco. I know some people don't like these, but I have always wanted one. And I am glad I was able to get it. The movements are harder and harder to come by apparently. I got it with the 1171 bracelet, but have not adjusted it yet. So for now it's wearing leather. I think it looks rather nice. Wrist shot...
I guess it would all depend on the condition of the original... The better the condition, the wider the gulf will be between them in value. For me, I do not like a beat up-looking case and bezel, or a faded, chipped dial. This is why the Watchco is a perfect balance. I get to have the classic design of the original, but the perfect condition of new...
An interesting comparison: There's an original SM300 Cal. 552 for sale at WUS right now. Dial was re-lumed, new hands and crystal installed, but the bezel, case, and caseback are original (presumably so is the movement, also recently serviced). It has a new Omega mesh as well. It is a few hundred dollars lower than a new Watchco.
Beautiful, really beautiful. May I ask why Watchco is not appreciated as you mentioned in your post, Persco?
Originality. Some dislike the idea of a re-cased movement even with the correct specs. But compared to most new SM model (less the PO), these "re-issuers" look nicer. I personally don't dislike them.