I'm a huge IWC fan, and I have the 5001 and 5004. I admit the IWC deployant is not the best fitting design for my wrist, but I love the dials of both.
Differences make the world more interesting, no?
I've worn my 15202 almost everyday since I got it in August, and I love it. Its become my favorite watch and I think its one of the best purchases I've ever made. Admittedly I'm not really tough on my watches. Initially, I wondered about its water resistance, but I have several Rolex watches including a Sub that I would wear for more rugged sports.
I own 2 VC dress watches already. I liked their dress watches, but of their sport watches the only one I really like is their original 222 (from the late 1970s early 80s). I've never liked the Overseas all that much. The original was decent looking but had lots of problems with bracelet links locking up (a buddy of mine that collected VCs had a chronograph with lots of problems and eventually dumped it). The second generation is just an oversized ugly watch. The case looks lopsided and heavy, and grew in size just to join the "Look at me I have a giant watch club." The dial is ugly on the time only model (the first generation was more sophisticated), the alternating subdial size design of the chronograph is goofy...then there is the gaudy bracelet. No thanks. I spent a lot of time looking at various models of ROs, Overseas, and PP Nautilus. The Overseas just never seemed to have the quality of finish that the ROs or the Nautilus had.
I'm kind of dissappointed with where IWC has gone in the last 10 years or so.
Actually, the 2120 and 2121 have been used in AP dress watches for decades. In addition, several VC dress watches have also use/used the 1120/1121 (their version of AP's 2120/2121) in dress watches and sport watches for several decades. Sadly, the current version of the movement in the VC just doesn't look as nicely finished to me as in the AP. Even the rotor in the current VC using the 1120 is not as beautifully finished as it used to be when they used that movement.