I am 51 years of age and have owned 8-10 BNIB Rolex over the years. I wore Rolex exclusively since my late twenties. The SS/PLT YM and GMTIIC stand out in my mind as two exceptional ones I have owned. They are great watches, well made and hold their value very well. I never had a mechanical problem with any Rolex, ever.
I reached a point where I care far less about what others think, about impressing others, and far more about what I enjoy for myself. The Panerai line caught my eye and I bought an 88 (sold) then the 422.
My gut instinct tells me that general quality control across the line is better with Rolex. Repair turn-around times are better with Rolex. Panerai has the edge on style IMHO as Rolex is still selling pieces that have not changed much in 60 years. All said... I don't give a rat's ass. I wear what I LIKE, FOR ME and thus comparisons are irrelevant and a waste of energy and ironically, time.
Rock on to those in the Rolex camp. Rock on to those in the Panerai camp. Bravo to those open-minded folk who enjoy both. To those who simply don't understand that it's not about inane, petty comparisons but rather being comfortable in one's own skin, well one day hopefully you will "get it".
Last word in this rant... I get more compliments on my 422 than all the Rolex I have ever owned combined. Peace.