I owned the PAM 48 first and flipped it. Now I have a 45mm Radiomir and feel the size is perfect. It comes down to the fact that Panerai & it's history are rooted in 44mm+ watch sizes. It's just what they're about. All this said, I really feel that the 40mm just isn't right for a PAM.
Good luck on your search!
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Rolex / Panerai / Omega
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