The 5 digit sub is one of my favorite reference. So much so, that I bought a bunch of Kermits from different factories and did a comparison to see 'who da best'. Here, we have the ARF, JF and BP (all stock at the moment) for comparison. Absent is a gen or a TC.
ARF - JF - BP
Availability
The ARF and the BP are the only models available from TDs currently. The ARF is currently listed by TDs for $488, making it the most costly of the bunch. The JF can still be found via M2M/BST every once in a while for $350-400 (unmodded). The BP comes with a SA3135 or an A2836. For this comparison, we have the SA3135, which has the correct date window location and crown height. The BP 3135 is currently on special for $228, normally $308.
ARF
Overall, the ARF is a great rep and the most gen-like option available, today. With a little franken, the ARF is a very satisfying watch.
The major issue is the datewheel font being too thicc and the font being wrong. This has been discussed at length by others, so just change the DW for a gen, or swap out the entire movement for a VR or VS3135. The SH3135 isn't bad at all, mine has issue and it's just easier to do a swap and fix the dw and movement at once.
The insert is actually quite good. The green is very vibrant and looks closest to the B4 insert. If you can get a gen (about $400), do so. If not, I think it's fine.
The rehaut looks fine from the naked eye, but it doesn't stand a chance if you do a side by side comparison with a gen.
The ARF bracelet is quite good, especially compared to the BP. The solid endlinks has no gaps, but the recess is not great, especially on the bottom right at 5 o'clock. SEL is an issue across the board here.
The dial looks decent. The print could be whiter, but without doing a side by side, you're not going to notice that. The lume (in daylight) on these are apparently too creamy compared to gen. But since I don't have one to compare, I'm going to say it's fine as well. If you get a gen dial, make sure you get gen hands as well. Mismatch lume is the worst!
JF
The JF is my favorite out of the box. From my research, JF and ARF is the same factory and the main difference here is that ARF uses 904L and JF uses 316L steel. I suspect anyone looking for a 5-digit would want to franken it. In which case, you can pick up an ARF as your base.
The datewheel isn't bad on this, although it's still a little on the thicker side. From the gen photos available online, it doesn't look that off. So I'm going to say it's acceptable, but should be changed if franken. The older SH3135 are noticeably less smooth. So, if you re opening it up, a VS or VR movement swap would be my move.
The insert on the JF is actually my favorite and it's entirely a judgement call. I just happen to like the darker green that looks metallic black at certain angle. It's very cool, but photos doesn't do it justice.
The bracelet feels similar to the ARF. The clasp is a little tight, but it could be due to wear from previous owner. The SEL on the JF is the best of the bunch, but that isn't saying much. It's basically the best of the worst. They all suck. This one just suck less.
Same issue with the rehaut for the JF, although I feel like this is slightly crisper or 'less suck' than the ARF and BP.
BP
The BP, while a bargain, has some major flaws -- bezel, insert, lugs, case, bracelet and dial -- that's hard to look past. I knew going in that the BP isn't gen instruction, especially the bezel assembly, which means that you can't do an insert swap.
The insert green is closest to the B3 lime variant. The color isn't bad, but it's not for me. The number on the bezel is smaller, leaving a noticeable gap between the bezel ring and the crystal.
The lugs have these aggressive chamfers that's very hard to ignore. The case looks to be a different size (I ordered a caliper, but it's not here yet), but to the naked eye, you can see the difference.
The bracelet is much lighter than the ARF and JF, and it feels cheap by comparison. It lacks heft, and the hallow midlinks are probably thinner and the other links may not be solid. The SEL is the worst of the bunch, and sits completely flushed to the lugs. The clasp is actually ok.
The dial was said to be the best of the bunch, based on a few comments in the forums. I couldn't definitely say why it was said to be better. But from what I was able to gather, the lume on the BP is whiter during daylight. Again, this is something I cannot confirm. What I can confirm is that the print on the dial is, unlike the rest. Especially the "1000 ft = 300m" line. You'll notice in the photos below that the spacing, kerning, typeface are different than gen or the other two. From what I've gathered, the BP dial is based on a D6 serviced dial.
Here are some comparison photos:
ARF
JF
BP
Gen (taken from Christie's)
ARF
JF
BP
Gen (taken from Christie's)
ARF
JF
BP
ARF
JF
BP
ARF
JF
BP
Final thoughts
Like any reps, all three Kermits has their flaws. To make a decent 5-digit Kermit, you really need to do some light frankening, specifically the DW (or movement) is a must. For those seeking closer to perfection, the insert, dial, hands, and bracelet would need to be changed.
I went into this really wanting to like the BP as the good-enough option, especially for the price. Given its limitations, it's really not worth modding. But the flaws listed is just too great for me to ignore. If you want a 5 digit kermit, the ARF is the only way to go, if buying from a TD.