Hey Aaron,
You asked for a review of my new Seiko, so here it is: I started looking for an automatic watch because I was tired of replacing batteries (3 watches this year) and wondering if it was sealed correctly. A couple of years ago a jeweler screwed up my Luminox and it started taking on water.

I also was looking for an auto to celebrate losing weight (30+ pounds) - but that's another story.
I like the feel of the watch. It a nice hunking piece of steel that feels good on my wrist. For right or wrong, I like heavy watches, as to me they feel well made. Also it is a thick watch, over 1/2 inch, so you don't wear it under dress shirts.
I didn't like the original watch band that came on it. That was ok with me because I knew that I wanted to mount it on a Rhino watch band. I discovered how good the watch pins are on this watch. I coulding remove them by pressing the pins in - I had to cut the Seiko band off. This was ok, since the original band was uncomfortable to me.
The big thing was the price. I got mine at a local Seiko store. I got a great price for it - $115. It was a no brainer since on the internet I was looking to buy one for $160.
Sorry I can't give you a more detailed review. I've had it for only 3 weeks. The time is still accurate (just checked it against
www.timeanddate.com). It's Winter here in New England so I haven't been in the water with it or the woods (hiking and camping).
And to comment on what someone had said about Seikos and O&W's being like Toyotas and BMW's - I'll agree with that. I would buy an O&W but at the price that I bought the Seiko, I can beat on it and not feel bad about it. By the way, I did also buy the Toyota 4 Runner a couple of years ago over the BMW X5. I couldn't justify the price difference. Also unlike 95% of SUV owners, I do take it off road and somehow I feel more comfortable off road in the Toyota than I would be in the BMW.
Good luck in your search!