I had the more expensive Timex ironman with GPS and HRM for a few years. After what I would call normal use, the plastic/resin band failed. It cracked, then broke completely. To replace the band  cost more than this basic watch cost brand new! I now have a GARMIN GPS/HRM watch for running/training etc, but I use this Timex as a sporty casual watch to wear and to ocassionally use at the pool while swimming to keep laps/times etc. Does great. Looks sporty and by far, by far, the velcro strap is the way to go (i put velcro on my garmin as well for running races, triathlons etc). Velcro more exact fit, lighter, more comfortable and if it fails, cheap easy replacement. I will not own another of the plastic band versions.

UPDATE: May 2012: This watch is indestructable. Great basic training watch and casual sports watch. Looks WAy more expensive than it really is. Can't go wrong for this price.