Agreed.
With PAM's you really need to figure out what your goal is. If it is to impress people on this site by posting pics of your new watch, or to impress gen PAM owners, then you better budget accordingly. If you are just out to satisfy yourself with a watch that you like the looks of, and that will be reliable, then I don't think you need to spend more than $200. Research these threads, look carefully at the photos showing the inaccuracies, then decide if you care. Personally, after looking at the nitpick details, I decided that I am more than happy with $200 and less PAMS. But, I am not trying to impress anyone but myself with my reps. I never try to pass off my reps as gen, but that is just me.
I have bought a few pure "fantasy" reps, and I don't care if they are not based on a gen. As long as they don't look and perform like a cheap throw away, I am happy. Its not like $200 and under versions have plastic cases and rubber band movements. Some look pretty decent and are reliable. I bought my first PAM rep in 2003, an automatic, for about $150, and it is still running and it has never been serviced. Of course, I have to manually wind it now, and I am sure it is about to blow up any day now, but hey, 7 years of use for $150? I will take it.
For me, it is a case of rapidly diminishing returns after $200. This is not to take away from those who do care about the details. I would just rather have two $200 PAMs, than one $400 PAM.