@Dob: Yes 904L steel is more corrosion resistant (I did not mention this above), but subjectively I also have the impression of it being more scratch resistant - but I am not able to produce figures on th surface hardness. It may be of interest to see that 904L has obviously a higher proportion of alloy metals in it than 316L, according to Wikipedia:
http://en.wikipedia.org/wiki/Steel_grades
Maybe someone wih better knowledge in chemistry than myself will be able to answer this question or post a link.
Some very interesting construction drawings of the GMT-Master II C are posted here:
http://www.rolexforums.com/showthread.php?t=30808
If I read them correctly, the cyclops date magnifier is coated on either side.
Thank you for your compliment!