I use this watch while kayaking, so it gets wet constantly. Never a leak or an internal failure, in spite of its lack of being "water proof".
Its small size is much more comfortable on my wrist than typical sports watches, and the lack of a fancy lap time function isn't a factor for me - although I'm constantly using the stopwatch.
The only drawback is a band that isn't the strongest, but at this price, I buy three watches at a time to make sure I've always got "enough". Don't take that to mean the band breaks constantly. I'm pretty brutal and the band typically lasts a couple of years.