The Casio "G" shock seems to be a rugged watch. I know many divers who use it down to 130 feet plus with no problems.
That said my everyday watch is a Rolex GMT Master II. It has GMT time and date. No batteries, which I like! It's a little pricy though. It is pretty rugged too. Would I cry if I lost it? You bet! I usually don't dive with it. (It's also a old SF thing, on the old list.) It was a retirement gift from my wife...always wanted one.
My other watch/dive computer is the Suunto Mosquito. It is basically a dive computer set up for recreational SCUBA diving on compressed air or nitrox. It keeps track of depth, time at depth, assent speed, times safety stops and also will connect to ones computer and with Suunto's software and cable give you all the data of your dive history. (Note: Dive wise, it gives you a lot more then I have mentioned.)
As a watch, it gives you (2) time zones, different timer functions and an illumination light built in (Press button). One con on it is the face is plastic and scratches easy.
I have a clip on Suunto compass on the watch band. It seems to work pretty good for a quick reference. I've had it down to 138 FT. No problem.
For a diver it's a great watch and BU dive computer!