I figured it out.

[advocatia]

What is it about the new 50th GMT II that "makes" the watch so cool?

The bracelet and clasp? No. A big improvement the clasp is and the solid links as well. The polished center links give the watch more of an eye catching look. But thats not it.

The green 24 hr hand and writing? Nah, Can barely see it. Same for the ROLEXROLEXROLEX. Very subtle.

The new movement? Conceptually nice but no big deal. The larger winding crown? Nah. The case? Nope, not the case.

The maxi dial? Also nice but already accustomed to it on my YM.

IMHO it is the BEZEL. The bezel gives the watch not only a larger look but sets it apart from the rest of the Rolex line. Theres a lusture to it that is hard to describe. I have been getting looks like "what is that?" Then people look closely and ask about it and have been very complimentary. The way in which the bezel blends in with the dial is really quite remarkable.

Rolex got it right with this one.