The second generation is in my oponion the better all round watch. I have a first generation, and also a second gen, and with the second gen you get the benefit of a better date font and the newer movement. I doubt you would notice the misalignment, the Navitimer dials are so complex as it is, its not going to be that noticeable.
As far as the movement goes, the 7753's are very hard to find, and are very pricey, so I would buy one and have it serviced.