Yeah, the ones in the display case look like more of a gunmetal. Personally I prefer the display case ones.
Some people say it's just a lighting thing, but has anyone tried shining a light onto the wearable demo models to see if they look like the display ones under bright light?
Wonder what the actual retail ones will look like. Personally I would lean more towards the display case ones, purely because all apple stores have the display cases for people to look at, but only a handful have the SS Space Black to try on in store. So most people will be basing their buying opinions on the display case models.
Just remember - they're brushed steel, not the same finish as the glossy watch body. There would be too much glare otherwise.