This is a good monitor - I use it when biking and running on the treadmill. I use the basic funtions only, haven't connected it to the computer.
The watch is water resistant and so is the transmitter. However, if you want to swim in it, it's better to wear a vest or something similar because otherwise water will run between your chest and the belt and it will stop working.

Having a HR monitor has completely amped up my workouts! I have a much better handle on my level of effort and know whether or not to back off and slow down or put a little more energy into my pace! I just ran another 5K and was able to leave everything I had on the road and take first place in my age division b/c I could tell there was still more in me I could give based on my HR. Marathon #3 in Chicago, here I come!

I absolutely love the level of control the RS200 has allowed me. I now have the ability to know exactly how hard I'm working.

Things I found helpful:

The 'heart touch' feature... when you are running you can bring the watch up to the chest strap and it will either turn the back light on, or change to one of the other 3 display options so you can see different info (calories, time of day, etc, etc)

The exercise log is amazing, it really gives you a nice idea of what you've been up to. I use it in conjunction with the free training log @ www.mapmyrun.com

The OwnIndex feature is really nice to gauge improvement. I've had the watch for about a month now and have been intrigued to watch my improvement.

I picked the red watch, I think it looks very sharp!

The watch is bigger, if you are used to a regular running watch, but by no means it is too big. I have about average sized women's wrist and it fits nicely!

Thought I'd mention the Polar RS200 I bought came with the T31 coded transmitter which is not pictured above the one above is the WearLink a much more comfortable model. To the heart of the matter I really haven't used my Polar RS200 to its full potential, but when I did I was very happy with the features. It also makes a wonderful everyday watch and has taken its share of abuse.

When you're heart rate increases, you'll know to relax and breathe so you don't scare her/him off. Well, I've never tried that, but I'd probably do it just for the sake of trying it. I really despise wearing watches or any other type of jewelry. But this is so lightweight and comfortable that I wear it everyday. I usually forget it's there and people look at me funny when they ask me the time and I say "I don't know." I use it for running, hiking, and cycling. I'm not training for anything, but it's good to have information right on your wrist so you can keep track of your body's improvement.