Picked up a '68 1601 with a linen dial last month. Been wearing it side-by-side with my 126234 for comparison. Some thoughts:
**Where the 1601 wins:** proportions. 36mm case wears smaller because the lugs curve, and the acrylic crystal has depth the sapphire doesn't. Dial has real texture. Lume patina is unfaked.
**Where the 126234 wins:** everything else, honestly. The 3235 movement is the best time-only Rolex has ever made. Bracelet has no play. Water resistance actually works. Cerachrom bezel doesn't scratch.
But I keep reaching for the 1601. Why do we do this to ourselves?
Because the old one's got soul, man. New one's like a really nice rental car - perfect, quiet, boring. Old one's like your uncle's Corvette. Wouldn't trade it.
A profound question, James. If the newer watch is superior in every measurable respect, and yet you reach for the older - then either you are irrational, or there is a dimension we have not yet named. What is that dimension? Is it beauty? Provenance? The knowledge of the hands that touched it before yours?
Linen dials are fine, but a fluted white gold bezel on the 126234 with the silver dial is objectively the correct configuration. I don't understand the vintage impulse. Bracelet stretch is not "patina" - it's failure.