Not helping your case, my friend. Please, please, please do not buy a Submariner as a "first watch." Get something more niche, even an Explorer I or II would be a better choice.
I have to agree. Not a fan of the Rolex, especially the two tone. I hope you enjoy it. If your mind is made up and you have to have it, look in the Timezone classified, do due dil. You may save some big $$$! I think I would get bored of the two tone fairly quickly, and if you purchase it well, not retail, you may be able to get out without too big a hit. Remember, a watch, like a car, with very few exceptions(rare Pateks, etc), drops 30-50% as soon as you hit the asphalt.
Marshmallow, As you may be following the thread, there is some opposition to buying a Rolex for someone age 21. I would suggest browsing this thread as well as Timezone and the Purists to see what meets your criteria. I think an Omega would be nice, may have to look at a gently worn piece as it's a little higher than your range. There is a seller, ask one of the regulars on the Timezone Omega thread about them, who sells new Omegas at very attractive prices. He's on the east coast US, I'd give you his info, but I have no idea what I did with it. In fact, TKE, you should look at the same. An Omega is a very nice watch and some of the mechanical pieces are much less money and more understated than the Rolex. As I tried to say earlier, a watch is not an investment! You may even find something at, shudder, Costco. At the end of the day, get something that makes you smile.