Here's a quick comparison of the two watches. Bottom line...I'd get the MKII on a Maratac NATO strap, but I would be nearly as happy with the Hamilton.
While both watches are considered tool watches, the Hamilton is the dressier of the two. The case has polished surfaces and an exhibition case back. (Polished surfaces show scratches and swirls more readily than brushed surfaces.) The dial is also more striking/readable. The lume seems better on the Hamilton, and it will wear larger than the MKII (40 mm vs. 38 mm case). A more direct comparison would be to compare the MKII against a Hamilton Field Watch 38.
The MKII more closely resembles a true military field watch with its brushed case, solid case back, and less ornate dial. It flies under the radar, and you will be less likely to spot someone wearing an MKII in the wild. Uncle Jim and the guy you always see at the YMCA with the nice haircut will rock Hamiltons.
I read briefly of QC issues with the Hamilton crown. In general, the MKII brand is known for exceptional QC.
I prefer the 20 mm lug width on the Hamilton. The 18 mm lug width on the MKII seems small, but it will complement the smaller case and it is true to the original 38 mm field watch design.
While they're quite close, I prefer the specs on the MKII movement. It's sort of a Ford vs. Chevy comparison. The MKII's Seiko movement is a workhorse variant of the 6R15 (mid-range Seiko movement). The Hamilton's ETA movement has been slowed down from 8 to 6 beats per second to achieve a longer power reserve. I don't know if that would have an effect on the long-term reliability of the Hamilton movement, but it's worth noting. If a longer power reserve is important (i.e. you want the watch to continue running off the wrist over a 3- day weekend), the Hamilton clearly wins.
I like the anti-reflective coating on the crystal (better readability under strong light) and the screw down crown on the MKII (the experts say this doesn't affect water resistance, but I like the screw down feature). I also like the drilled lugs on the MKII, as it makes strap changes easier. IMO, these features all add to the durability and use-ability of the MKII over the Hamilton.
The Hamilton can be purchased at a discount while the MKII cannot.
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If anyone else has comments, I'd love to hear them. Keep us posted, Chris, on your thoughts. Back to shaving.

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