What it is and where it sits
The Rolex Cal. 1570 is the third-generation perpetual-rotor automatic, replacing the earlier 1530 / 1565 family in 1965. The defining change was a frequency bump from 18,000 to 19,800 vph ("high-beat" by 1960s standards), which improved chronometer-grade timekeeping. The 1570 is a 3-hand date or no-date movement; the Cal. 1575 adds the GMT-hand module for the GMT-Master 1675. Mechanically the two share the same base architecture, balance, and rotor system.
The watches it powered
Few calibers have a more star-studded reference list. Submariner ref. 5513 (no-date Sub, 1962-1989) ran the Cal. 1530 then 1520 (a non-chronometer variant), but its date-equipped sibling ref. 1680 (1969-1980, "red Sub" then white) ran the 1575. The GMT-Master 1675 (1959-1980, "Pepsi", "root beer") ran the 1575 throughout. The Sea-Dweller 1665 (1967-1980, "Double Red", "Great White") ran the 1575. The Explorer 1016 (1963-1989) ran the 1570. The Datejust 1601 / 1603 / Day-Date 1803 ran the 1556 / 1570 family. In short: if you are looking at a vintage Rolex sports watch from 1965 to 1980, the engine is almost certainly a 1570 or 1575.
Hacking, the 1972 update
Pre-1972 1570 / 1575 movements have no hacking: pulling the crown does not stop the seconds hand. From 1972 Rolex added a hacking lever; you can identify a hacking 1570/1575 by an additional bridge on the balance side. For collectors of military-style or precision-set vintage Rolexes, the hacking version is mildly preferred; for purists of early references (1675 "Pepsi" "Mark I" dial, 5513 meters-first) the non-hacking version is era-correct. Both are equally serviceable today.
What replaced it
In 1977 Rolex began rolling out the Cal. 3035 for the new Datejust 16000-series, raising frequency to 28,800 vph and introducing the Quickset date. The 3035 / 3075 (GMT) and later 3135 / 3175 (GMT) progressively replaced the 1570 family across the catalogue. The Submariner 5513 was the last reference to keep the older 1520 / 1530 architecture (until 1989); the GMT-Master 16750 (1981) was the first GMT to drop the 1575 in favour of the 3075. By 1989 the entire 1570 family was out of current production.
Vintage market and servicing
Cal. 1570 / 1575 watches are the heart of the vintage Rolex market. Service is straightforward: parts (mainsprings, hairsprings, jewels, even balance staffs) remain available through Rolex Service Centres and independent specialists. A typical full service runs USD 600-1,200 at a respected independent. Watch values: a clean 1675 GMT-Master 1675 runs USD 12-25k depending on dial and bezel originality; a 5513 Submariner USD 12-30k; a 1680 "red" Sub USD 25-60k; an Explorer 1016 USD 18-35k. The 1570 / 1575 is robust enough that 50-year-old examples still keep COSC-grade time after service.