Agreed, the resale on any of these is pretty horrendous. It seems better on the aluminum only because it doesn't have as far to fall. I originally went SS because I loved the look and figured it would be an item that would last a while, but seeing the drastic performance improvements so quickly, it's clear this is a device Apple means for you to update semi-regularly. At that rate, aluminum seems to make the most sense unless you are trust fund rich.
I’d say if you’re going to drop serious cash series 3 or 4 is the one and should last you a few years. The iPhone took a decade to get here but now the X, 8 series and, for some, the 7 series aren’t essential upgrades. They’re nice extras for some specific use cases , or design or bragging rights. You can get by with a 6s or even a SE.
I think, and watch this post come bite me in the ass in two years, we’ll get to that point faster with the watch. LtE connectivity , better battery life, waterproofing and speed were all really expected as eventual upgrades. What’s next? More battery life, a slimmer form factor , FaceTime (?). Apple is a master of the upgrade and I may end up being first in line but I will reach a point that when the basics are covered I may not upgrade as fast as my phone. Especially if I have the white ceramic
that does most of what I need it to do.
It’s a watch at the end of the day. Design , size, input limitations. For my use case it’s a glorified Notification Center , iPod, watch, news reader and navigation center. It lets me keep the phone in my pocket more. If it’s a bit slimmer with LtE (already here) I’m not sure I’d upgrade every two or even three years. The sheer variety of bands let’s me change the look up more than a phone or laptop so it doesn’t even get boring.
Time will tell. And if something incredible does come out I’d buy the cheapest aluminum option for the tech and keep the fancy one (SS ceramic Hermes etc) for the style. Perhaps even buy the tech one generation later when prices drop.