I hear what you're saying. I'm not sure if I'm settling so much as learning about something new. Everyone gives the Pelagos rave reviews and I KNOW I'll be thrilled when I get the BLNR next year. This is my first watch but I (think) my ideal stable would be 4 watches, adding an IWC Portuguese Chrono (a real dress watch) and some type of Panerai Luminor (looks good on the brown leather on Saturdays, etc). All three are somewhat similar, I agree, which is why I thought starting off on the more affordable end would be smart.
I would probably wear the Pelagos or Sub frequently on some type of nato or leather band on the weekends and eventually when I save up for it, the BLNR on steel for work.
For what it's worth, I'm 25 and live in a fairly casual small city, so having something that's a little bit understated is what I'm after.
Okay, in that case I'd go with the BLNR and wear it a few months and see what you feel like you're lacking after that period of time. My guess is you're going to be jonesing more for the IWC or the Panny than another sports Rollie. The BLNR is striking in person and has awesome wrist presence. It also dresses up and dresses down just fine.