IWC has released a successor to its Portugieser Chronograph Classic. The new reference 3903 replaces the reference 3904 and brings in a few subtle design changes. Offered in your choice of stainless steel or rose gold, the 42mm case is very straightforwrad in its design, featuring a thin stepped bezel and round pump pushers flanking the crown. double-stepped case and round chronograph pushers. The dial comes in silver or blue when paired with the steel case, and silver when paired with the red gold case. The two-register chronograph has a great hour/min totalizer display at 12 (hours inside, minutes on the outer) and running small seconds at 6; the chrono seconds is the center-set hand. Inside is IWC’s caliber 89361, with a 68-hour power reserve, and nice though fairly standard-grade finishes. All said and done the IWC Portugieser Chronograph Classic will set you back $12,100 in stainless steel and $20,100 in rose gold.