I've become a bit of a watchsnob

the past few years and have looked into this a lot. So I suggest you get a real dive watch that you can beat the snot out of and you'll be fine. You want something seriously rated for 200m depth. A Rolex Sub tool watch from the late 50s, properly sealed, has better dive water resistance than the Fugly Fossil at the mall kiosk.
Next option to consider is movement: Automatic (selfwinding) or Quartz/Battery powered. Autos are typically more money and could use a service every few years if you are really diving, quartz needs a battery replaced every couple years and if not done correctly WILL lose waterproof.
A Seiko Orange or Black Monster is a great piece with long lasting bright lume - $130-180 and a cool watch to wear when not fishing
A Tritium dive watch where the lume lasts for 12 years you could get a Marathon TSAR (great watch, I have one that I use fishing) used for about $250-300 and is built like a tank and used by Canadian Rescue Divers.
I can sell you my old Luminox tritium for $100 with a commercial diver's strap but I cannot guarantee it will be always waterproof as it does not have a screw down crown (important in dive watches). There are better watches out there and what i did not know at first, the SEALS really don't use them (I figured if they were good enough for them then...)
Or you could get a Casio G-Shock for $100 and have a great watch
One recommendation is whatever watch you get, put it on a NATO dive strap - they are both cool and will save your watch if in the water and a springbar fails. Commercial dive strap is extra long and you can put it on the outside of a wetsuit / drytop. These ones are great for $20. You are probably already familiar with them
maratac
Links to big pics:
Orange Monster:
http://linesiders.com/watches/omonster/om-aug11-2.jpg
http://linesiders.com/watches/omonster/om-aug11-3.jpg
Marathon TSAR
http://linesiders.com/watches/tsar/marsar.jpg
Luminox:
http://linesiders.com/watches/lumino...ox-3057-1b.jpg
http://linesiders.com/watches/lumino...057-lume1a.jpg