I am going to pile in on YM's review as I got mine a few days ago. It is an incredible rep of a $7,000 watch. The minute I got it I marched into Tourneau and compared it with gen IWC's including standard Aquatimer and the new ti Cousteau ,. This one is incredibly close and the weight and feel is excellent. I have to second YM's comment that it is far and away the best rubber strap I have ever seen on a rep. Frankly it is better than my gen PAM, and Breitling Rubber straps. The concern on the line-up on the numbers on the inner bezel relative to the dots is unfounded. The inner mechanism is exactly comparable as the one on the new gen Ti Cousteau. The caseback although not perfect is damn good. The new 7750 movement has been running for sseveral days now is keeping COSC time. And by the way within 3 days my day date wheels appeared to have settled in to reasonably good alignment. Anyone who doesn't think this is a great rep just doesn't get it. For $400, if you like IWC's, there is no other rep I would buy which is currently out.
In my case, it is a long term keeper so I will swap out the movement, have Ziggy re-lume and swap the day date wheels for standard ETA (very close to standard IWC date font). I will be into it for approximately $700 and for 10% of the cost of the gen I will have a fabulous rep. In fairness, I did not have any QC issues so I can't comment on that. Thanks again to Angus.