Finally found myself a Gruen PanAm in really nice shape AND newly serviced for a decent price. I've been trying to find a good PanAm for about three years now, and finally came across one on eBay from a seller I've bought from before who delivers decent goods.
The story behind the PanAm is that the airline of that name, which was the US Flag Carrier back when that actually meant something, basically commissioned Gruen to make them a pilot's watch that wasn't a pilot's watch with all the bells and whistles, like we all know from Sinn, Breitling and others. They put a decent high-grade movement in the watch, but there is no chronograph functionality, nor is there even a bezel, which sort of defeats the idea of a pilot's watch.
But it wasn't supposed to be a watch for pilots: after all, the planes of the period had all the functionality of what a pilot's watch was supposed to do built in to the flight board, so all the pilot *really* needed was a high-quality watch to tell time by when he was on the ground and trying to impress stewardesses from other airlines (after all, the stewardesses from his own airline already knew all about him...). So here some pictures - seller's pictures - of the pilot's watch that isn't a pilot's watch.