Yes, I think you are right about Rolex is trying to make it more like a Flieger type B watch, especially with the 126900. In Rolex Magazine issue# 10, they wrote "The new Air-King is now even more closely aligned with the world of aviation that is its inspiration" and didn't mention the Bloodhound project at all.
I have farsighted eyes, so when I remove my glasses, the dial on the 36mm becomes a blurry mess 😄. Additionally, the 40mm offers more material for not much more money and still looks great on my wrist. The final nail in the coffin is that my wife prefers the 40mm on me. I also figure that in the future, I can buy a pre-owned 36mm to scratch the "historical size" itch since there are plenty of them on the market.
I think Rolex naming them "36mm" and "40mm" is pure marketing. They couldn't literally make the Explorer a 40mm watch because it would be unwieldy on most people's wrists if they kept the proportions the same as the 36mm.
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