Off topic I guess, but I looked at all these fancy watches when I started running a few weeks ago and in the end I suddenly realised I already had everything I needed and I just use my phone with the Asics Runkeeper app, it does everything I want it to:
Time, Distance, GPS tracking, Altitude (presumably computationally derived rather than via a barometer), Music, Audio prompts etc.
And of course with it being a phone it has all the other useful apps on there, like full OS maps for £23 a year :-O
If it's raining I stick it in my waterproof coat if it's not so bad weather wise I put it in one of those arm band things which cost £15 or something - sorted!
I may end up with a fancy watch one day, but right now I really have no need!