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Not always for the peace of mind... I bought my Speedy Pro w. display back brand new from an authorized dealer. It wasn't in the shop, so it came from Omega. A week afterwards I had to return it because some problems with the chronograph functions.
Fortunately, Omega's service was great, and the watch is working fine since I got it returned (a month ago).
So if something can go wrong... Warranty has its own value, like insurance. And mechanical watches, chronographs specially, are more prone to problemas than electronic ones.