Ditto what Philly said above.
...Panerai is a joke. I was at the AD and could look at some 40mm PAMs some weeks ago, and asked about the differences on them. The ONLY and ONE difference on them, is indeed the steel bracelet.
And why is that a different model? ´Cause PANERAI jokes around, not making the bracelets/straps interchangeable...
...So, to sum it up, if you get a GEN Panerai with leather strap, you can´t install a GEN bracelet on it cause it won´t fit. the lugholes are completely different, as my AD told me.That´s why they have so many models, cause of Dial colors and Strap/bracelets variations...
PAM48 & 50 - black dial
PAM49 & 51 - white dial
..with leather and steel bracelet respectively. (there are the ones with Titanium casing and bracelet too...)
I don´t know how the reps work in this matter, but I guess they don´t have this strap/bracelet problem, so I still want to get a PAM48 and put a stell bracelet on it too.
Cheers,
Spirit.