OK, I too have had generally good luck with this sensor, at least until the battery inevitably died. But before I decided to spend almost $50 to replace it, I decided to try to change the battery myself which Polar totally disapproves of. Bottom line, ten minutes and 4 bucks later, I have a like new sensor on my bike. Changing the battery worked for me.
If you decide to try it, here's how to do it. First, understand that the sensor's plastic black case comes in two halves that are glued together to make it watertight. So you have to carefully use a knife or small screwdriver to gently pry the two halves apart. Pry them apart on the bottom side of the case first where it is easier to get your screwdriver between the halves. Once the glue joint starts to break, work your screwdriver/knife around the perimeter of the glued joint, prying it apart just far enough to methodically break the glue joint but not so forcefully as to crack the case halves.
OK, once you have split the two case halves apart you will see a form fitting circuit board attached to one of the halves. Use a small nail or awl to pry under the board at its edge and dislodge it from the plastic case. Be gentle! It should easily pop loose. Place the board to the side and you will see the dead battery attached to the inside of the case, under where the circuit board normally sits. Just replace the small battery with a new CR1632 battery and then place the circuit board back on top so that it reattaches to the case half. Next use some model airplane cement and carefully put a small bead of glue on top of the original glue joint on the case half that does not have the circuit board (this way if you make a mess, it will not get on the circuit board.) Make sure there is a good bead of cement around the entire perimeter to make it watertight again. Press the two halves together and use tape or several rubber bands to securely keep the halves together while the glue dries.
That's it. If it doesn't work, your only out 4 bucks.
I'd give this product 4-5 stars for performance but maybe 1 only star for making us waste a ton of money when we shouldn't have to. Average it out to 3 stars. Good luck if you try the battery replacement yourself.