This is the cheapest I've ever seen this, per ccc. I had my price alert at $250 and this is even less than that. Is has the SW200 movement and has coin-edge bezel. It is an homage piece to the Rolex submariner. The lesser comparable one is the 8926 OB which goes for about $80. Here is a comparison of the two. http://www.timeasitis.
Nice review here. http://www.youtube.com/watch?v=09j8zVL