This was for my son's 20th birthday.  My first good watch was a Seiko I bought myself for my 20th birthday in the base PX in Kirch Goens, Germany.  It lasted for well over 10 years.  I still have the watch but no longer wear it.  After I got out of the service I went to watch repair school and then spent 20 years in the business, so I'm picky about watches and I know what I'm talking about.

Things to know:
First, it is a mechanical watch and will never keep time like a quartz watch.  So what?  Will a few minutes a month end your world?
Second, it has a stainless steel case that will still be around in 50 years (long after the watch is no longer repairable).  The band is decent quality but not what you got from Seiko in the 60's and 70's.
Third, ALL watches require regular maintenance, no matter what brand or type of movement.  Remember, it is mechanical, like a car.  Is the only money you spend on your car for gas?
Fourth, this is a self-winding watch and needs to be worn all the time.  It must also fit your wrist properly:  Snug fit allows an automatic watch to wind itself.  A loose fit defeats the auto-wind mechanism and the watch will NEVER run right.  This is a watch, not a fashion accessory to be worn as a floppy bracelet.  You want that?  Buy a quartz watch.

The reason most watches stop working is that the lubricants begin to break down, so they need to be cleaned.  That means stripping out the old lube that has turned to shellac and re-lubing and adjusting the timekeeping.  As the watch ages, a certain amount of wear will occur on the pivots of the wheels, which decreases the quality of operation.  In other words, it won't keep time as well as when it was new.  Also, gaskets break down and need to be replaced to maintain water resistance.  If you want to keep your watch running, have it serviced when needed, and understand that it will never be a new watch again. Live with the degradation of accuracy or buy a new watch.  For this price you can afford a new one.

Bottom Line:  This is a fantastic watch for the price, and if you appreciate fine mechanical devices, that's a bonus.  This may not keep atomic clock time, but you won't be late for lunch.  If as a rocket scientist you have to have split-second accuracy, buy a cheap quartz watch.