... are unreliable diving watches and my own experience with my several ones tells they are very reliable and tough.
This is not to deny that a Submariner or any other watch can fail. As you know most problems with flooding watches is due to failure in O rings and other gaskets which should be checked from time to time. Also if corrosion exists in the metal surface were the gasket is in contact can break the seal.
In any case, it is interesting to note your hate/love relation with this watch which, in spite of its failure and not having its original dial and bezel still you consider it a Keeper for life. I guess those stories it treasures after so many years accompanying you make it deserve the title. I wish you´ll keep enjoying and loving it so much.
Best, Abel