Looks like this post here is gaining traction again, so I'll re-post my reply on WatchUSeek here:
As an owner of both 1861 and 3861 Speedmasters (both are Hesalite), I can say the 3861 Speedy is an upgrade in almost every aspect:
1. Slightly better finishing quality, at least to my eyes and feel
2. Drastically improved bracelet, the new OEM bracelet is one of the most comfortable bracelets I've ever worn. I'm normally a strap guy on Speedies but I find myself stop swapping straps on my 3861
3. Better wearability, the new bracelet articulates straight down, plus the slightly shorter L2L length (47mm vs 48mm) and thinner thickness (13.58mm vs 14+mm)
4. Darker and stepped dial. The dial color of 3861 is more like a true black rather than charcoal on the 1861, combine that with the step gives the dial more depth
5. Much better time keeping and anti-magnetic, my 3861 runs slightly over 1 second fast per day while my 1861 runs 5+ seconds fast per day
6. Longer power reserve, mine clocks in at about 64 hours in stead of the official 50 hours, and this is hardly an exception as multiple forum members can attest to this
7. Hacking second, if it matters to you
8. Noticeably easier to wind thanks to improved crown design, the pushers also give better tactile feedback (I think this is as good as a cam system can get, and this is not to say the 1861 is bad at all, it's much better than 7750 based chronos)
9. Flat, non-protruding caseback. The 1861 caseback has a protruding ring around the hippocampus logo that causes some discomfort if you like wearing the watch snug
This is not to say the 3861 is perfect by any means. Aside from the bushing issue forum members ran into (which I fortunately don't have after 9 months of ownership) and some random QC issues, I've also noticed that frequent usage of chronograph function will lead the watch to run slow. An on-the-fly adjustment clasp should also be included in the 3861 package in the first place. Last but not least, the 1861 Speedy is considered as the last Speedmaster to fly in space as officially issued equipment, and I doubt the 3861 Speedy will get such treatment given it's a completely different day and age now. I believe buying a manual wind Speedy at 2022 is more or less a romantic decision and the point above might affect some.
All in all, I think Omega really has put in a lot of efforts in the 3861 Speedmaster, and this attitude alone contrasts starkly to some other lazy competitors in the market.