IWC Pilot's Watch Chronograph Mechaquartz (IW3740-01)

I recently had a horological dream come true. Not only do I have the honor of owning a Big Pilot - in fact, the early "slow-beat" Reference 5002 - but I have now added the first perpetual calendar watch to my ticking collection.
 

Lightweight multifunctionality
When I took the 46.2 millimeter stainless steel Reference 5026-20 IWC Big Pilot Perpetual Calendar "Middle East" made for Dubai-based Seddiqi & Sons out of its package and put it on my wrist, the weight took me by surprise: it is not as heavy as the regular Big Pilot model. This is due to the lower amount of "heavy metal" in this model. While the original Big Pilot is fitted not only with a solid stainless steel case back, but also a soft iron cage to protect the movement from extreme magnetic fields, Reference 5026 has a transparent case back with a wonderful view of the movement that legendary watchmaker Kurt Klaus originally presented to the IWC management in 1985. However, this updated version is outfitted with Caliber 51612, which has an additional power reserve of seven days and a double moon phase indicator displaying both the northern and southern hemispheres added to the 26-year-old movement. IWC actually claims that this movement offers the most accurate moon phase display in existence.
 

Long lasting
This movement boasts a pre-programmed perpetual calendar function that will need no regulation for the next 522 years. On top of that, every single function (day, date, month, year and moon phase indicator) is operated via the winding crown. No extra pushers are to be found on this watch, and no stylus tool is needed. I believe this makes the movement quite unique as most other watches offering perpetual calendar functions have regulating pushers recessed into the side of the case.
Missing AM/PM indicator
In the week or so I have worn the watch, its precision has been very impressive. Of course, when wearing it 24-7, the power reserve remains full and I have not yet worn it with a low power reserve, which could perhaps affect the precision. One crucial thing is missing on the watch though: an AM/PM indicator.
When I received the watch, it was actually set to the right date, but I did not know if it was showing 2:00 AM or PM. The watch was sent from the actual watch store the limited edition watch was dedicated to, which means there should have been an expected time difference calculated between Dubai and Copenhagen, where I am located.
 

I did not know if Seddiqi & Sons had actually set the time correctly prior to shipping; if they had, then the watch should be on correct time plus two hours. This meant that I had to wait for the date to change before I knew if it was set correctly. You cannot manually adjust the date backward. If you want to adjust it forward, the only procedure left to you is to pull out the crown, which stops the movement thanks to a hacking function, and waiting for the right date to appear before activating the movement again. Alternatively, one can bring it to the local IWC-authorized watchmaker, who should be able to readjust the calendar functions.
A pusher system could, of course, easily regulate this, but I still appreciate that the whole movement is controlled via the winding crown.
Reference 5026-20, the Big Pilot Perpetual Calendar "Middle East," was produced in an edition of 70 pieces in 2010 and had a price of approximately 22,000 euros. This limited-edition model is long since sold out.