You have two wonderful Calatravas here Geross.
I thought I wouldn't go for 3-hands only Patek anymore but would have preferred going for a more complicated one in the future. However, since I tried the 5227R and handled the 5110 (which have the 5127's case with crown guards), I'm reconsidering this opinion.
As for the size, I always considered that it depends on the wrist's size: if you have a very small wrist, 40+ maybe too big? With a large wrist 37 may look too small.
And, furthermore, it is with my own European aesthetical persepective! It won't look thus same in other parts of the world

Thanks for sharing the pictures Geross, I tried the 5296R last week in both versions: sector dial and classical one and the blued hands are beautifully made.
Cheers Geross and Merry Christmas.
Mark