I use a $20 digital Armitron and it hasn't failed me yet. Always on time and good in the dark.
tis what i have and the E6-B works great for quick GS checksBut not the cocktail lounge, hey!
Scarily, a lot of JC'ers, including myself have this watch:
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And I got mine from hmewatch.com.
The watch I like is http://www.falconwatch.com/, which is understated, not ostentatious or kind of nerdy looking like most of those. No "big watch" syndrome problems, either. Looks good, dressy, but covers all the time zones, keeps great time. Had mine since before Falcon bought the company, almost 20 years now. Mine is actually a Glycine (as referenced above, but GMT 2001), but they sold out to Falcon.
I had a $20 casio, but just upgraded to a $33 dollar timex ironman, I love it! I can't get over how many pilots I saw at the CFI level, AMF, and now Skywest that have $5000 breitlings or rolex's! How embarassing!! Everyone knows how little you make...chumps!