For this reason I have for the most part, looked down my nose at Elgin watches.
The major exception is the B. W. Raymond model, which some consider to be the finest of the railroad timepieces. It certainly is a fine watch, and many say that they are excellent timekeepers and their choice of a watch to carry.
In essence the 571 version of the BW Raymond was Elgin's answer to the Hamilton 992B. (There are a lot more 992B out there than 571 BW Raymonds, something like 525,000 992B were produced).
I got my hands on a couple of 571 model BW Raymond watches, and then learned that there are 3 variants of the 571.The dial on my type "B" has an odd marking like "dp" which is the Elgin logo for the "durapower" mainspring.
Removing a 571 from the case is tricky, because you need to loosen a stem holding screw, but never more than 2 turns (else it will detach from a piece under the dial). Loosen it a bit and gently try to remove the movement, and if it doesn't come out, loosen the screw a bit more and try again.
Also note that the regulator on a 571 is a bit too big for most cases, requiring some "hogging out" of the case to make room for the regulator. Perhaps Elgin was rushing to marked to compete with the Hamilton 992B.
A BW Raymond that is not marked "571" is probably a 478 movement, especially if the jewels are in settings.
The Elgin Veritas and Father Time are also nice models worth watching out for.
Try this website, when and if it is up:
Tom's notes / tom@mmto.org