I just received this watch, and from first sight (and use) I can tell is a good watch. I will do an update when I experience it more. :)

Some of the functions:

-It has 5 alarms, 4 normal alarms (you have to set it every time you want to hear it) and one that repeats itself every day .

-World hour (set by city, GTM/UTC 1 2 3... -1,-2,-3..)

-Water resistant (50m)

-Day, month and YEAR (not all the watch have the year displayed)

-The light... just like the others said, looks REALLY cheap and its orange :S, you can set the display time: 1 second or 3 seconds

-It has energy saving (yes... a solar watch with energy saving, I mean, what for?)

-Summer time setting, according of your time zone, with the option of turning it off.

-The 120 lap is for the runners, I know, its a runner watch. Its a little complicated, but if you read the intructions you can use it like you use your cellphone... The 120 lap thing is to save your runnings 1 lap has a beginning, middle and end. It displays how many lap left you have...

I think I'm missing some other function... mmm ah yes, stopwatch or chronograph, timer and the possibility to see your running times.

I will run with this watch and capture my times and try to use every function so I can tell you if is as good as it looks.