Seiko

Part 1 outlined the technical aspects of the movement:

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I've had the GMT strapped to my wrist nearly every day for over 2 months now and it's time for a proper review. It's the only watch I've worn for the past 2 months and I've travelled with it.

Retail price for limited edition SBGM031 with blue dial is 6,300 USD, SBGM021 with brown strap and ivory dial is 5,900 USD, and SBGM021 with medal bracelet is 6,300 USD. 

The movement:

To me, the movement is the most important part of the watch, although I had gone through the technical and engineering features of the movement, I'd like to discuss its performance in daily wear. On the wrist and laid crown right at night, it gained 1 minute in a month, however it gains approximately 7 seconds a day laid flat. Performance is adequate to excellent by any measure.

The balance is not free sprung but Grand Seiko is known to use a flat hairspring with a lossier curve which helps with chronometric rate.

The finishing is good, but the rotor is concealing too much of the bridges for a proper view. It would have been preferable for the spokes of the full rotor to be narrower to get a better view. The plates are sharply finished without anglage anywhere to be seen. The tokyo stripe finish on the plates is pleasing to look at and highly reflective. The skeletonized escapement is difficult to see or photograph through the full rotor but quite interesting under a loupe. 

Overall, I would say the technical finish of the movement is similar to what you would find in a Jaeger LeCoultre or Caliber 39 Glashütte Original.

The case:

The case is a wonder to behold, it has smooth edges and is highly polished. The forged steel is also very hard and scratches from changing straps have been much shallower than my previous experience. The polish is very high and you can easily use the case as a mirror in a pinch. The caseback is held on with large screws and laser engraved lettering. Perhaps deeper actual engraving would have been a nice touch but Seiko most likely had no other choice due to the very small letters. Overall the case is as good if not better as any Patek I've handled

The crystals:
The front crystal is what really sets the watch apart, it is raised up approximately 1.5mm and domed. The vintage appeal of the crystal is great and since it's uncoated sapphire, I've yet to have issues with scratching.

The dial:
The navy blue lacquer dial is very nice. The applied markers are highly polished and there are only 2 microscopic bits of dust (very, very small barely visible at 10x). I wish there were fewer words on the dial and perhaps it had only GS at the top and Grand Seiko, GMT on the bottom. the 24 hour lettering is almost invisible which keeps the dial uncluttered. The massive sword hands are brushed at the top and polished on the sides. The seconds hand is nicely rounded, but the sides of the hand are not highly polished and could be better. The GMT hand is a gilt matte gold and balances the colors nicely. 

Strap and buckle:
This is where I was slightly disappointed. The strap is made of nice, polished royal blue porosus crocodile, but when bent, the spaces between the scales cracks to show the white underneath the leather. The clasp is nice but bulky, while the idea of an integrated tang/deployant buckle is great in theory, in practice, the deployant bulges up too high for my comfort. I have very sensitive wrists and ende up opting for my traditional polished stingray strap with a very smooth and small tang buckle. The clasp is well made, just not very comfortable.

Occasionally I like to practice a bit of blasphemy, and I wear the watch on a NATO strap too (photo at the bottom).

Functionality:
The watch is indeed a true GMT, there is no quickset date but the 12-hour hand can be adjusted in 1 hour increments in either direction, regardless of the time of day. The 24-hour hand is adjusted with the minute hand and can be set as either GMT or home time. The hacking mechanism works nicely and the keyless works feels good. (The true engineering competency of the works will have to be commented on by a watchmaker who's looked into the watch).

Wearing comfort:

The watch is very thick at 39.5 mm diameter and 13.5 mm thick, it's not too top heavy and sits quite nicely on the wrist, although I'll admit that it has a wrist presence and you'll notice that there's something strapped to your wrist. 

Overall, it's a great watch and I'm sure the ivory dialed version has its own beauty to offer. Personally I preferred the blue dial since it nicely conceals the 24 hour lettering. Anyone interested in the ivory version should definitely also look at SJX's review of the SBGM003 (older version of the 021).