The new model with built-in HRM is over £250 and this model is exactly the same with with a more traditional HRM strap. The price has been dropping steadily for the last few weeks and could well go lower but this is the best ever.
No other watch out there can do all of this for the money.
Treadmill (yes, it's a bit iffy but they all are)
Bluetooth link to iPhone (Android in September)
Auto-sync to Runkeeper / MapMyFitness / Strava
I know you can use your smartphone and numerous free apps to track activities - that is not a solution, it's a compromise.
Review here - http://www.urbanlimits.org/tomtomgpsreview/