This is a watch I've always admired. I had the good fortune of trying it. Aesthetically, I love it: simple and elegant. Technically, I don't like the lack of hacking seconds. What would you do? Would you go for it, think about it or forget about it? ...
For hacking seconds...I find it somewhat annoying that it's missing, but not deal breaker for a dress watch. My laurent ferrier doesn't hack. VC cal. 4400 doesn't hack. I honestly haven't set a watch to the second in years. BTW I love the case design and ...
I think you should go for it. Many (all?) Pateks I have don't have hacking second. If I recall correctly they didn't think it was good for the movement or some other reasons. It doesn't really matter as every mechanical watch will lose a few seconds daily...
In fact this reference has stayed in my memory since I first saw this years ago. Hacking seconds is not particularly important to me. I like the case metal, step design and how the dial blends with the strap.
And I'm glad you liked this 5124G -- for some reason, its red strap (which we put on when I bought it in 2010 and never changed since! ;-) seems to exponentially increase its character and versatility! Cheers.