I ordered both the Ray II and Mako II so I can see the differences in person.  They are basically the same watch with different markers on the bezel and dial, and a different design on the bracelet.  This is probably one of best deals in watches.  The automatic movement is very accurate and +5/6 sec between the two watches out of the box.  The shade of blue is perfect:  very dark and nice looking, but has just enough color that people can see it's blue from any angle.  I'm so glad they got this right, and isn't the common bright gaudy shade of blue that looks nice on it's own but weird and plastic toy-like when you wear it.  The design is classy but also has a rugged tool watch appearance.  The wide chunky case, lugs, and rounded inward curve of the end links give it a semi-cushion case appearance.  In pics and videos the Ray looked better, but the Mako is a lot nicer looking in person than I expected and I actually prefer it.  The only downside to the Mako is that thinner markers means the lume isn't as bright and visible, and there is no lume on the seconds hand.  The short lugs are a good design approach and fit well even on smaller wrists, but the lugs and bracelet are wide and chunky.  It looks a little too big on my 6.75 in wrists, mostly what pushed it past how big of a watch I'd like to wear was the wide lugs.  I'd buy one again if they made a 38-39mm version.  I have smaller wrists but the size should work well for a lot of people.

Some very minor cons are:  the texture on the dial looks platicky up close, and the crown is a bit too small in use but is otherwise fine.  I guess I'll take a smaller, less comfortable to use crown if it looks better.  I think the overall look would be more refined if the lugs were 20mm instead, and I would have probably kept it in that case.  The bracelet would also look better and more refined if it tapered more. The bezel looks great and isn't too reflective around the edges, but is hard to get a good grip on and turn.  If the case were smaller and at least flush with the bezel it would be easier to use.