Got it, and it is quite large... The base of the watch is about 55mm long. Tried it on the nearest female wrist I could find (not an average one!), and although the strap did up, it wasn't ideal. Sounds like your wrist might be a bit bigger though so if you don't mind a watch that's a bit bulky it might do.
in terms of heart rates, I think it does the following:
Max is set either from age, or manually. This is used to display current as a percentage of max.
Two zones are programmable with a range of 5bpm - one is selected at any one time, with independant high/low alarms.
So if you use whr, the percentage displayed won't be right, but everything else is done in BPM, which is independant of any other variables. There isn't anything related to no. of cal burnt (but that's got to be a wild guess anyway?), and it does intervals based on time or heart rate recovery.
Shame the instructions are rather brief - just 20 very small pages.