Chris...I know exactly what you're going through....I did the same. I guess it comes down to what "floats your boat".....In the end, I chose a PP because of my PERCEIVED notion that as a timepiece (i.e.movement, precision, ability to hold its value), it is the best.....though maybe that's just great marketing by PP.....I don't know. But I will say that the simple clean almost retro look of the 5196 spoke to me.
But again, on looks alone,I really love the Breguet (5907 or 5157), and I agree with some of the others that I wouldn't worry about it being a huge (if ANY) step down from a PP in terms of movement, craftmanship, etc.
Tough, but in the end you really will enjoy either...but I suspect you might eventually end up with both.....I think I will.
Ange
Good luck....also good comments from Lutz.....