There are many present examples of just that type of combination; some Fortis Pilot watches and Revue Thommen chronographs are two right off the top of my head.
Carefully examine straight-on pictures of them, notice how the luminessence does NOT typically penetrate the minute chapter ring (the black tip of the hand does though, but that's "invisible"). The net effect is that very fast time recognition is not possible; at least for me.
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