For myself I would love both, but economics (like most) had me choose a 292K.
It's not as special as a 26 or a 292J, in terms of collectability.
It doesn't have that wow factor of a Luminor with the most noticable corwn guard that we all love.
BUT it is more comfortable than a luminor, and it has that GREAT ceramic case!
I have a steel luminor that shows the wear and dings of everyday wear, and got over it, but still a ding is a ding, and a scratch is a scratch.
I wore the 292K ceramic to the park 2 days ago with my kids, and had to put them in swings. Well needless to say I had the metal chains rubbing on the side of my watch trying to get my 1 year old into the swing. When I looked, CRAP, scratches and metal colouring on my watch....say la vie, another wathc that I just have to get over. I rubbed the watch and the metal colouring came out but the scratches look like they wear still there.
Went home, took a damp cloth, and VOILA! Just like new!!!
For me, for a daily wearer, its great!
Now I just need the extra cash so I can buy/wear a 26 occasionally
Good luck...you won't reget either decision