Strengths: The device is light on the wrist and very light on the shoe, with a good clear display. Once calibrated it is very accurate as far as speed and distance is concerned, give or take a percent or two. Big buttons make it simple to flip between readings. Watch has a large memory, storing data on 100 runs. There are a myriad features, if you can figure them all out. Wouldn't go on a run without it.
Weaknesses: A number of the measurements (altitude, outside temperature, top speed during a run) are inaccurate. The display light is weak and switches off too quickly once activated. The battery (even good brands) in the shoe pod is only good for 40 hours or less, so get a big stock of them. The features take time and concentration with the manual to figure out. Polar should organise free user-seminars.
Overall: If you're looking for the basic functions: heartrate speed and distance, this watch is very good but is probably too complex. It does all of the above but too much more for the runner who is not an elite athlete.