Just make sure to try both on with a long sleeve shirt. I loooove my Panerai (PAM 104), but find that it does not fit comfortably under my shirt cuff and I really have to force it in there, which then causes me to worry about scratching it on the shirt cuff. For these reasons, whenever I wear a long sleeve shirt or suit, I ditch the Panerai altogether and wear something else.
That's just me, though, and plenty of people here likely have no issues at all. But again, just try it on to make sure you're good.
If I could only have one watch within that price range, I'd get the Rolex Submariner ceramic. A bit "boring," but it's classic, durable (especially with the ceramic bezel), and versatile.