I've been a big fan of Panerai's in-house movements since they first debuted. Although a few minor hiccups in some models, I would say they've proven themselves to be as robust and more accurate as the movements they replaced.
I've always been a fan of the PAM233 but just never got around to getting one. The classic 1950-style case with the P2002 movement is a winner in my book (although at 44mm, it's not a winner in JF's book
When I saw that a local HK Paneristi was offering one on the CM, I arranged to meet up with him and a few days later, the 233 was on my wrist.
Since then, it's become my (near) daily wearer. As many of you know, I'm on the road a lot and walking factories with customers and generally being active. I'm usually careful which watches I wear since its easy for me to crash into things on the planes, buses, or trains I'm on most days.
The 233 is has been fantastic. I put the rubber accordion strap on it (very humid here in China), and it never leaves my wrist. It's spot on accurate and the styling doesn't attract unwanted attention.
The movement, simple in design but packing a lot of features, it very nice to look at. Let's be honest, the finishing isn't to the same degree as an AL&S or FPJ, etc but you're not paying their prices either.
For me, a watch needs to work, be able to take abuse, and look good, and for me, the 233 has it all.