A highly accurate mechanical dive watch with 200m water resistance,  screw down crown, and Seiko-SKX007-killing lume, for under $150?

Yes, it's true.  The Ray is a fantastic watch and my third Orient purchase.  It looks stellar with a Maratac nylon stitched strap or a traditional British regimental-color NATO strap as well as the rubber strap that comes with it, though admittedly the dolphins are a bit cheesy.  My guess is you'll purchase additional straps. It's low-profile enough to fit under a dress shirt cuff and stylish enough to wear to the office with the right strap or bracelet, but also sporty enough to wear to the beach with trunks and a pair of sandals.

It's been accurate to within 3 sec of COSC standards for me, making it fine for most folks and scary to the Swiss chronometers that cost three times as much.  Can't say enough about the quality of this watch... if you're concerned about the mineral crystal scratching, just buy the Ray now and go search the Watchuseek forums for information on obtaining and installing (or having installed) a sapphire replacement.  All in all you're still talking under $250, and in my opinion the style, worksmanship, and versatility of this watch still makes the investment worth it.

Great value for those that love dive watches, but love a healthy bank account, too:)  Buy it already!