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Joel:
"Rolex, the watch for people with more money than brains"

While many yuppies do purchase Rolex for the status symbol many successful and very inteligent CEOs also purchase them as well, also many watchmakers own at least one.

"A little known fact, Omega has actually been around since 1848 while Rolex has only been around since 1905. "

thats NOT really a little known fact since a quick visit to Wikipedia could tell anyone this information. Just because something is older does not necessarily make it better, I wouldnt buy an RCA television over a samsung, would you?

"The Omega Speedmaster was the first and only watch to ever leave Earth's atmosphere in the space crafts."

This is simply unture, when you consider Russians have been in space as well and brought their own Vostoks or Poljots. Im also pretty sure Bulova Accutrons have also left the earths surface, and also the many digital time instruments found on the space craft (i'll assume you meant mechanical wrist watches tho).

"Omegas are just all round beautiful and durable watches"

I agree BUT their flagship movement isnt as good as Rolexs' worst, and cant seem to match Rolex quality control and construction. Steel grade is one example, and assembly; Swatch owns factories in the far east that makes disposable movements. ONE thing Omega does have over Rolex is the Co-axial escapement, but Rolex has KIF and the new "Parachrom Bleu" hairspring.

Dont get me wrong, OMEGAS are great value and original in their own right, I really love the speedmaster, but putting flagship models head to head im fairly certain Rolex is the winner in a technical competition. Style is another matter as I personally prefer the speedmaster to the daytona.

Daytona VS speedmaster, or seamaster chrono

Seamaster VS Submariner or Deep Sea

and even dress models.

Omega falls slightly short, but I guess the difference is reflected in the price gap.