I just got this watch recently so I can't comment on reliability over time, etc. However I can give you my first impressions, which are excellent. This watch really looks much better in person than in pictures. It's not a overtly "manly man" watch like the legions of Submariner clones and military watches out there, but instead it's simple, elegant, and understated. I was a little concerned that the mirror-polished bezel would look too blingy or jewelry-like, but it actually balances nicely with the deep blue face and brushed-steel band. The watch itself is a good size if you are, like me, small-to-average in build. The exposed mechanics on the back side are an added bonus, especially for those of us who are relatively new to the world of automatics.

The bracelet is also good quality for the money. It's put together well enough that I was easily able to remove a few links to resize the bracelet on my own. The last watch I got, an Orient diver model, was so stubborn that even the professional watch repairman had trouble with it. It's convenient to save yourself a trip to the watch shop and reassuring to know that you can modify the watch band however you like, whenever you like.

As far as actual time-keeping goes, I'm sure it's losing or gaining a few seconds each day, but nothing noticeable, and I haven't had to reset the time yet. I haven't had any issues with it in the short time I've owned it.

If you're looking for a big, complicated, eye-catching watch, keep looking. But if you want a simple, mid-sized dress watch with timeless good looks, or are just looking for an entry point into the world of automatic watches, this might just be the one for you. You'd be hard-pressed to find a better value for the money than the Seiko 5 line, especially with Amazon's regular discounts.

Update: I've now had the Seiko for almost a month and I'm pleased with the accuracy of the movement. It's only lost about a second per week, which is incredible for any automatic watch, let alone one in this price range. Part of that is undoubtedly the luck of the draw, but I've got no complaints so far.