This model has been around for a while and has probably been superseded, but it's worth buying if you're looking for a go-anywhere watch. G Shock watches have a good reputation and this particular model is a good example of why they're so popular.
The display is easy to read, apart from the tiny 6-segment indicator for alarm, snooze, signal, auto backlight and daylight saving time. The buttons are recessed (presumably so that you don't accidentally press them) and need a firm push to operate, but the watch is supposed to be waterproof down to 200M. I think I'd rather have hard-to-press buttons than a leaky watch!
Most of the watch features are useful apart from the time recording function, which saves the time when you press a button on the watch. It's supposed to be some sort of aide-memoire or a nautical navigation feature but I've never used it. The multi-alarm is great with 1 snooze alarm and 4 other alarms that are independent of each other. The radio-controlled time setting is spot-on and the Tough Solar charging and power-saving features do a good job. My watch has never dropped down from the "High" charge state since I bought it 2 years ago. A nice touch is that the movement sensor for the auto backlight feature also "wakes" the watch when it's in power-saving mode. The display turns off when the watch is off your wrist and it gets dark, but it comes back on a little while after you pick it up and put it back on your wrist.
Overall finish on the watch is good, although I've seen some 4+ year-old G Shocks with dull chrome bezels. The plastic case on my watch seems to be a magnet for white paint as it sometimes scrapes on door frames, but these marks are easily removed with water and a gentle rub with a non-stick pan scourer.
The Wave Ceptor is a big, chunky watch and looks great. It also performs well and is only let down by some small niggles. Therefore it gets 4 out of 5 from me.