Just thought I'd share a few comments about the Timex Speed and Distance 100 Lap watch which I tried out earlier today. I bought it off Ebay for around £120 including delivery so saved £100 on UK prices.
The unit consists of the watch and Transceiver with an arm band. There is also an optional belt clip for the Transceiver but I decided to go for the arm band. I have to admit that my first reaction on seeing the Transceiver was that it was a little on the large clunky side - about the size of a pack on playing cards with 3 AAA batteries. However, having attached it to my left arm I felt no discomfort at all from either the unit or the armband during my run.
The first job is to switch the Transceiver unit on and when you do this for the first time it can take up to 5 mins for the red light to stop flashing and turn green as it finds the appropriate satellite. True to form it took around three minutes. Subsequently it should only need around 45 seconds to find the satellite unless you move abroad or race a few hundred miles away.