i actually liked the both and i was in your situation once..
which then i settled with the 112..
i do like the 37101 and IWC's brand..
its realli worth the $$ given the mech. and the chrono vs a empty 112..
39mm is not realli to my liking..
cut the story short..
i fancy only pvd watches.. and doesnt like steel case or bracelet watches..
and base PAM only comes in polished steel case .. which took me a awhile to swallow.. *bling bling .. and equally care when wearing PVD watches..
through reading .. its background and get to know the Panerai's brand better..
once bitten by the PAM bug .. it was disturbing me and had sleepless nights and out hunting a pcs of base PAM ..
a month now.. i did not look back .. and i m already happily collecting straps
and prolly aimming another logo PAM or 312,359 or 351 tobacco dial
hehe.. and leisurely i jus received my sandwich dial orange markers PVD homage..