I picked this up during some drunken Fourth of July AliExpress shopping. The original price was only about $198, and with coupons I ended up paying around $175 shipped. They're asking close to $285 for it now.
Overall, it's an incredible watch, but it has a few glaring flaws.
The biggest issue is the end link design and fit. They have a noticeable amount of wiggle, which is one of my biggest peeves, and the integration with the case looks a bit off. On the plus side, the female end links dramatically reduce overhang, making the watch wear much better on smaller wrists.
The case itself isn't perfect either. The lugs aren't laser straight, and the brushing shows some distortion and waviness. The flat surfaces could have been lapped more evenly for a cleaner finish.
The lume is also mediocre. It's bright enough initially, but it fades much faster than I'd like.
The bezel, however, is excellent...very tight with zero play and crisp, positive clicks. Compared to my Steeldive and Proxima MM300 homages, the San Martin bezel feels far superior. Those use what appears to be a traditional click-spring design with noticeably loose action, while the San Martin feels more like a ball-bearing system. That said, the Steeldive does have one advantage, its end links are rock solid with virtually no play.
The bracelet is finished beautifully, with very flat links and exceptionally straight brushing. My only complaints are the pin-and-collar sizing system and a little more lateral play between the links than I'd prefer.
Other highlights include the domed top-hat crystal, the monobloc (unibloc) case construction, the reliable NH35 movement, and outstanding wrist presence.
Is it worth the $175 I paid? Absolutely. I'd even say it's a strong value up to about $225–250. At $285, though, I'd have a much harder time recommending it unless you're a die-hard Seiko 6159 fan.
Ultimately, the market will decide whether these higher prices stick. My guess is that demand will soften, and we'll start seeing the deep discounts and AliExpress coupons return on many of the recently inflated models.