Well, I would have to disagree with the statement about watches losing half their value with a r-edial or restoration. Most of the value in a watch is due to the movement not the extraneous packaging. Unless of course we're talking about cases made of gold or platinum. Moreover, when one collects anything, it should be because you like it, not because the perceived value of it. If you "invest" in watches, cars or comic books be carefull, because in two, five or ten years it may be worth less then what you paid for it. Allways collect because you like it, whatever it may be. If it goes up in value, then it's gravy. Restoration is a personal choice. I happen to like the look of old beat up Panerai's, it some how suits their history and what they were used for. But other watches, to my eye, wear the beat up look less well. Some patina is nice, it adds to the character of the watch. In the end it's a personal choice particularly when you consider that it's your money. Who cares what anyone else thinks.
JP