Which I believe, also applies to the OP. He did say he kept the original dial, and parts didnt he?. So-While he now has a modified or customized SpM-if the time came that he ever wanted to sell- all he would have to do is tell the "tale" even though its a bit complicated.
So-without getting too semantic about "franken" I'm going to say I think this OPs watch falls into the "exceptions to the franken rules" category. (You know? The 'Official' handbook of rules for Omega Forum terminology. I'm betting one exists-somewhere.). But still-OP (oh-and note to the op-it took me a year to figure out what 'op' stood for and I didn't want to ask-so: OP="original poster{of this thread}" is right about "franken" not sounding much like a "complimentary" term. And I always thought of the term as referring more to the unscrupulous (or less likely: the innocently unaware) seller who sold a watch as "authentic" AND "original" when in fact it was not.
But-even if the op's watch does fit the same description of a watch that could be called a 'franken' he has the story, the parts, and some proof and isnt that what a good collector is looking for? A reasonable explanation for why a watch is not in its original state? [As for effect on value? I couldnt say in a case like this.?] He has some of the orig. parts which is good, I suppose. At least its better than a 'franken' with NO explanation to what happened to it, its original parts, etc. For this reason alone-the fact that he can explain and prove, to an extent, what the history of his watch is-it should have a label less pejorative than 'franken'. Though, beats me what that term would be?
Unless 'franken' isnt always as bad or as demeaning a term as I'm imagining:think:
Perhaps I'm linking it forever to the first time I understood what it meant when the very first "100% original/authentic" SM I won on ebay turned out to be a 'franken'. It was before I signed up here @ WUS and I dont remember the watch site but the forum 'master' was a guy named Zach-who basically savaged the SM:-| along with my 1904 re-cased pocket watch. I resold** the SM 120 on ebay for a small loss because I described it as an "exc.cond. SM refurbished with authentic Omega parts at some time unknown to seller, re-dialed...etc etc" [Note-I did NOT use the term franken back then as I wasn't even sure if it was "real" watch terminology. This was back in 2006 and I stayed away from Omega's(until my WUS join date-an hour afer I bought a near mint 100% -for real-for real-SM1040 and came here to ask what I just bought. And its been a true education ever since.
**As proof of the value of WUS-knowing NOW what I didnt know then I should NEVER have resold that 'franken' SM 120-despite the trashing it got from Zac on whatever that forum was. Even with 'wrong' redial and a supposedly wrong or even non-Omega bezel-It still had the case ref# of some SM (think it was 136.xxx?)and it was pointed out the mediocre re-dial should have had 'automatic' on it because there was an cal. 565 inside.(or maybe it was the wrong cal?) So-like I said-If I'd of kept this 'franken' {which in 2006 were 1/8th the price they go for now} I'd at the least have a perfectly good cal. 565 and the case of a SM to try and build upon. I could have sourced the 'proper' dial BEFORE the prices skyrocketed! PLUS-told the hands were incorrect which was true- they were mint and I could be using them right now in my SpM auto 1140 to replace the worn ones in there now.
SO-to OP-if your really interested in knowledge about Omega-vintage or new-stick around. Its amazing what you can pick up in a year or less.--Now -because I suppose there's no other way to put it but -I tend towards cheapness and remain willing to take chances bidding on vintage ebay Omegas under-say-$400usd -"Frankens' are always an 'issue'.-At least now I know when a watch is likely to have some 'franken' about it. And because of WUS and the 'franken' issue-I have learned to chance it only with watches that are just as likely to be 100% authentic as they may be 'franken'-.[And I guess I am also claiming, in saying this, that there are degrees to 'frankeness'. I like to think the watches I'm gambling on-will only have a part or two replaced and not be a complete and total mish-mosh of parts. So there are 'frankens' and there are FRANKENS'-i submit. Though technically-one could argue its a bit like being a "little bit pregnant" :rodekaart]
So far I've been pleasantly surprised once, Stunned once(totally 100% and in much better cond. than photos) and a 3rd time I got what I expected-no more-no less-a 'mostly' orig. connie with some parts of a cal. 565 in it.
And I still say the real excitment in Omega world is going to be in the vintage market over the next coming few years. With Omegas plan already in implementation to overtake Rolex at best and at least position itself as a strictly luxury only brand for the 'haves only' and no longer the "work-hard and can haves some day". Knowing about 'Frankens' will be absolutely crucial to any serious collector/used buyer and no longer just with pie-pans, upper-end SMs and the like.
Sorry I ranted on and on-but then whats new?
p.s.- While i'm rolling along here- and -we're on forum terms: I still don;t know what it means when posters in the sales f. advertise their watches and then constantly follow the orig. post with: "bump",. Bump, bump bump. What on earth is "BUMP"?:think: (where I come from a price bump is a rise -so that doesnt make much sense.):thanks