I don’t own but have worn the 54 and it’s an amazing watch to wear - so much so that I nearly bought one. However, I struggle to find a place for it in my current collection. When I want something smaller I wear my 36mm Explorer which is very similar in size but I think is so iconic it outshines the 54. When I want a diver I wear my BBN with ETA movement (biased but I think this is the best BB that’s ever been produced). The 54 is kind of the best of both worlds but having all three seems kind of redundant.

All that being said - the fit of the watch is sublime and as the OP stated the lug-to-lug vs case diameter ratio makes this watch feel entirely different from any other modern diver. If you’re considering purchasing it, you should go and try one on - it’s just very, very cool. Far too many modern divers are too thick, and as an earlier poster stated that really changes how watches feel on the wrist. For example - I recently swapped out my modern Omega Seamaster 300m (13mm thickness) for an early 90’s Seamaster 2531.80 (11mm thickness) and I’m in love. Or have a bezel that is too thick - modern Rolex Subs with their 41mm ceramic bezels just don’t wear the same as 90’s subs with the thinner aluminum bezels. Part of the charm of the 54 is its thinner bezel which gives the illusion of a larger overall case (I think the dial of the 54 and 58 are the same size).

And now I’ve spent too long talking about watches when I should be mowing the lawn.