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I wouldn't have a 35+ year old watch as my only watch, but I have watches far older that I wear as part of a rotation - that's what they are for.
I have a Breitling Chrono Colt II which I picked up a couple of years ago which I use for daily wear, have a Tissot sports watch T-Touch for outdoor activities and a 20 year old Seiko Chrono for odd occaisions, plus a few other watches G-Shock for example...
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Servicing is generally cheaper and easier than modern pieces as any certified watchmaker can do the work and parts are largely generic. The early automatic chronos are more of a problem because they didn't appear until 1969 and then got swallowed up in the quartz revolution so a) there weren't so many made and b) they didn't have time to evolve from leading edge to a stable platform.
I understand that a 40 year old watch wont wear or perform in the same way that a modern watch will for various reasons including movements, glass even the strap if the watch has been used... I just didnt imagine that it would be as problematic as it seems in the event that things go wrong...
I still am set on getting something from the 70's and a chrono is the preferred style (not so hooked up on whether its automatic or manual) but a sports type watch is my preference... just really not sure what to do now as I could obvious buy a modern watch with the 2k EUR (ish) I have... in which case I would be thinking of something harking back to that era
A modern Navitimer would fit the bill... but just would not be vintage ; ((