This is a good choice for those who want a smaller diameter and automatic winding. The lack of 'Automatic' printed on the dial and the lack of a date are positives in my opinion. I also like that the movement has some skeletonisation to it so that you can see the gear train instead of having a bridge covering everything expect the balance wheel. However, the cost of automatic winding is the 12.4mm thickness. I also feel that the movement is on the smaller side at 30mm, giving a 3:4 movement to case ratio whereas the pocket watch based Portugiesers had 37.8mm movements in 42mm cases.
I wish IWC would also offer a 42mm manual wind using the 98xxx calibre with the 'International Watch Co' cursive script for collectors. The 98xxx pocket watch movements are more in line with the lineage of the original Portugiesers and would allow the watch to be 10mm in thickness like the 5454 since these movements are 4.7mm instead of the 6.6mm of the 82xxx calibres.