This is a great watch. Paying very little for an actual Kinetic makes it even better. The styling is crisp, unfussy and extremely clear to read. It also had a very high quality feel to it. I can't say I'm crazy about the bracelet, but that hardly detracts from the functional bit, and I'd be embarrassed to mark it down for something that doesn't actually matter.
At the risk of boring everyone, a little background to clarify some of the other remarks.
It's quartz, and runs on electricity. From a battery.
There is a bob weight (just like in mechanical automatics) that powers a trickle charger, continually topping up a rechargeable Lithium Ion battery as you flail your arms around. This was a redesign by Seiko. The original Kinetics used a Flux* Capacitor to store the electricity and this didn't quite hack it, so they moved over to a Lithium Ion cell or retrofitted earlier capacitor jobs.
The current model also has better storage, so if you have charged it up, and test it with the top button, the second hand whizzing around 180 degrees, or 30 seconds, means it is good for 6 months, even if you were to keep perfectly still.
It is said the battery will need replacing in a few years, but one thing Seiko is well known for is making watches that last pretty much for ever. Also, Lithium Ion batteries have powered my digital cameras for years and never shown any sign of fading or failing, so I'm not going to worry about that for a good few years yet.
A very impressive watch indeed. I liked it so much I treated myself to a similar mechanical "5" with a light face ( an SNK789K ) to match it. Again £60 or so is bargain of the century money for a thoroughly sound old school, properly full of cogs and springs, watch (with a transparent back so that your inner nerd can see it all working...)
*OK, not really...