a bill yao modified seiko
While MKII has some of the nicest customs out there now(the Blackwater is so nice), I'd still recommend Harold Ng/Yokobies for the price and quick service. Not the best lume, but at this price point, you're looking for a watch that looks decent and will last you, not something for night time operations(and if that, I'd be looking at something with tritium, or perhaps a digital like a G-Shock or Suunto). IMO a custom sterile homage with a 7S26 movement on a good strap or bracelet, is one of the better watch bargains out there. If you had a larger budget I'd go with the Bill Yao/MK II or Chris Wiegand/Lum-Tec customs.
With just a little more than your budget, I was able to get a Sinn 656 styled Seiko SNKH63K for when I'm more dressed up, and a G-Shock GW7900B-1 to beat up at work and when I'm working out or surfing. But with your budget I was able to get a watch, a tropical Jurgen flieger strap and bund. If you shop used you can get something more to your liking for much less.
Here's Harold's own photo: