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Thanks for reinforcing my own conclusion!!

 

I am the OP and  I really appreciate everyone's comments. Since you all confirmed my own suspicions, I advised IWC to cancel the overhaul request.
 I was very hesitant to "throw money down the drain" on this nice-looking watch. I assume it has hardly any (zero?) potential to increase in value.
If I were to spend $1300+ to overhaul this watch, I doubt that I could ever recover that amount dollar for dollar should I ever sell it. 

FYI, I cannot (could never) see any warping/distortion claimed by IWC to exist.
(but I have old eyes to begin with and I am not a watch repairer to know what to look for).

Anyway, 7 seconds is good enough for me, so I will be curious to see how the watch runs and for how long.

Thanks again for the valuable feedback. 

Ron 

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