I've had a Seiko 5 for ... 15 years now? Really like their watches.
Seiko Watches - Underrated? - Page 24
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I recently purchased the SNK793 Seiko 5 watch. I don't know much about watches, but looking around it seems that the Styleforums and AskAndys of watches hold them in high regard for entry level watches.
The best part is, it was only $60. It's "marked down" from $185, not really sure if that's a constant markdown or what. Here is the link on Amazon: http://www.amazon.com/Seiko-SNK793-Stainless-Steel-Automatic/dp/B002SSUQF6
The picture doesn't do it justice there. Look through Google images. The face is a dark blue which catches the light well.
Here is a good picture from someone over at watchuseek http://forums.watchuseek.com/f71/wruw-3-28-13-a-838666-12.html#post6145665
Seiko is tremendously underrated. The Cocktail time in steel beats the pants off of any ETA competitor in the price range, and the Grand Seiko line is positively sublime.
Hell, even their older quartz pieces can be charming. I'm currently wearing a 7A28-7049 that I found in a thrift store for less than ten bucks :)