A $100-150 "entry level" Gamin Forerunner 35/45 paired with an accurate HRM like the Polar OH1 Arm Band is way more useful to me than an expensive watch with a bunch of useless features many of which are based off of inaccurate wrist HR data.
Ive tested garmin wrist HR along side a Chest Strap for a variety of workouts and it was simply unacceptable.
The chest strap is annoying though for many reasons so i gave the armband HRM a shot
Tested the Polar OH1 along side a Chest Strap for a variety of workouts including short track intervals and was amazed at how accurate it was.