I wear a SM AC (under the form of the later and certainly discontinued version with the "America's Cup" banner supressed and replaced with the "Seamaster/300m-1000ft" one) which is, at least here in Spain, the same price as the Rolex. And although both watches are great, I would not change mine for Rolex. To be honest, all the people I know wearing Rolex (they are not a representative sample of the whole in any case, anyway) are always on the turn of showing their wrist and say/think "hey, I'm wearing 4000$ in my wrist, not you". Of course they are completely wrong. So, people with Rolex, be careful and think about the fact that Rolex higher-price-than-Omega is not related with a better-quality-than-Omega; it is simply a question of company policy plus market favorable response.
On the other hand, it seems that Omega is recently changing its sales policy in terms of reatail prices. I have bought a steel/gold Constelation for my wife last Christmas, and I have noticed (maybe it is all in my mind) a certain increase in the price list for certain watches, followed by a reduction in the number of items comprising cerain colletions.
Regards:
Antonio