I've been meaning to post this since I received my Seiko 5 SNKE01 a month ago, appropriately nicknamed the "Poor Man's Grand Seiko" for it's similar styling to the far more expensive Grand Seiko GMT. I love Seiko and it is very reputable in the horology community, and the Seiko 5 series provides some of the best entry level automatics with models as low as the $50 range on Amazon.
The SNKE01 is rarer but can be had for around $100 new. I like the numeral bezel, reminiscent of the Rolex Explorer II (one day...) and the oyster linked bracelet. Very nice styling for barely over a c-note.