Pros:
1. BEAUTIFUL.  The watch itself looks very expensive and well made.  You would never think you can get such a nice piece for under $100.  The size of the face is perfect and fits my smaller wrist well.
2. Water resistant to 200m.  This watch can be used for diving, swimming, taking showers, you name it.  Many other watches have ratings such as 30M which basically means it can sit at the bottom of a 30M lake...  but if you swim in a watch rated to 30M, water may creep in.  This is because there is much greater water pressure on the watch when your arm is constantly slapping the water in motion.  200M is water proof in my opinion.
3.  Automatic.  No battery needed at the cost of slightly less accuracy vs a quartz watch.  I still consider this a pro because life in general doesn't need to be accurate to the second.  The sweeping second hand is also pretty cool.

Cons:
Haven't really found anything undesirable about this watch yet.  Will update if I happen to find something.

Overall:  I really recommend this watch to someone who wants to be a first time owner of an automatic and well made watch.

UPDATE: I don't want to jinx anything, but the watch is still in perfect condition and keeping great time. I've been wearing this watch pretty much daily...