Al P, I believe the stem collapse is when the stem is pressed, (to access the various timing features of this watch)it fails to change to the requested feature, although same features can be accessed by the other 4 buttons. According to a response from Omega, it may also be water tightness issue evloving from a production standbpoint. Not that this happens frequently, I have owned mine for over 2 years and have never encountered this problem. I used this awesome site to research this issue as soon I heard about it. Go to the ADVANCED FORUM SEARCH and type in x 33. You will find responses from others and Omega describing the changes as well as a picture of the 2003 model and its subtle changes. Would I buy the 2003 model vs the 2002 model? That would depend on the price. If I felt the new model was significantly better I would trade up, however, I do not forsee exceeding the limits of a watch that has been tested and approved by NASA for its pilots/astronauts. As for the asthetics, for 3k you can have your choice of almost any other watch that looks 'pretty' on your wrist. The beauty of the x 33, is in its application of its features. If impressing others is your goal, buy the Breitling with it's ornate and tiny little detailed markers, while you're at it buy a magnifying glass to help you see and decipher its information. MHOs