In vintage watch like the type being discussed here, the vacuum test is a more useful test. The reason why is that most people are not going to take their watch to 30 m depth, but they will get splashes on it while washing their hands and getting caught in the rain. The vacuum test is what tests the watch for conditions where it gets wet and is not under pressure - pressure that might help seal the watch during a pressure test and possibly give a false sense of security.
Usually even if a watch passes both tests in my testing machine (the program I use for these watches tests with -0.4 bar vacuum, and then +3 bar pressure) I recommend not to intentionally get the watch wet. As has been said, it's a one shot deal. Better safe than sorry.
Cheers, Al
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