[Quicksilver]

I had your dilemma when I bought my first PAM. For me a sandwich dial was a must have - I love the look and it's something for which Panerai is famous. But you can't now get a sandwich dial in any of the new base models - you have to increase your budget for that. I also did not like that the new base models have a snap in case back and reduced water depth rating. In the end I went for a used but mint 111. The latter 111's, after 2006 I think, came with very nice sandwich dials. If you shop around I think you can get a 111 in your budget or close to it. It's a classic and really a definitive model. I think it's the way to go.