I have worn this watch off and on for over 6 years and have put it through all manner of abuse. For the price $150-200, it's one of the cheapest reliable watches you can use in and around salt water. You can wear it on boats in the sea spray or take it into the ocean and not worry about breaking it like much more expensive Swiss watches.  It's also very durable, the crystal is scratch resistant, and the bracelet is comfortable. The dials glow in the dark VERY brightly, but only for about half of an hour, so compared to Tritium watches its nighttime usefulness is limited.

Is it accurate?

In a word: probably.

Wearing it 10-12 hours a day it keeps decent time, gaining 1-2 minutes a week, which is standard fare for automatics like this one. I got a second one as a gift with a rubber diver's band which I don't wear because on a bad week it's more than 3 minutes.

The build quality is also variable. Some watches have very flimsy bezel movements that loosen with time, others are rough but never loosen, only a few have the "bearing smooth" feel. Seiko is good with warranty support, and sending one off usually gets you another which is at least better if not different from the one you sent off.

In terms of power reserve, I would not take this watch off for more than 24 hours and expect it to keep running. Wearing it for more than 12 hours a day does make it run faster, but in no predictable way.

I've dropped it 20 feet, spilled gasoline all over it, and have taken it fishing and snorkeling in the Gulf and it still runs after 6 years with no real problems. But it was a warranty replacement for a watch that had stopped and had serious quality issues with the bezel and other build quality problems, so not all are likely expected to be equal.

As cheap automatics go, this is by far one of the more durable and reliable examples you can get, but variable build quality may mean you will have to try one or two out before you find one that works.