Goldenlutin,
The Olympico got the name due to the Mexican Olympic Games 1968. The name is specificly in Spanish hence the "o" in the end.
The Mexican Olympic Games was the first ever in a Spanish speaking country and also the first game ever in Latin-America, which was a big deal back then.
The MIMOlympic has a English name. Yes, both watches/models refers to the Olympic Games, but that do not make them the same.
Yes, you are correct that the Olympic "story" for GP begun in 1936, but not the OlympicO story.
As for the watch itself, yes, the movement is made by EP. I have not been able to get confirmation if the same goes for the dial and case.
But to say that they are "just" or "only" I think is a bit unfair...
In that case there are a lot of great watches arround that would be clasified as "only" a Lemania or "just" a Zenith or ....
Thank you for your input, G.
Best
Blomman