My Timex Expedition is now somewhere around 7 years old. It still stays pretty accurate. I guess what I'm saying is it doesn't take $130 to have a decent watch. That said I am jonesing for a Seiko or Citizen in the $150 area.....
Martines, search for a Seiko 5 model SNK809k2. Alternatively, if you like divers, search for a Seiko mid-size diver. They are 37mm and should suit you well. Ideally, you'll probably find a watch case between 35-39mm across (excluding the crown) will probably suit you best.
I could recommend the Vostok Komandirskie and the HMT Sona if you like the style IMG_0298 by Gilatabar Glabu, sur Flickr Both are rather cheap too. But get good straps for them, the stock ones are
you might want to check out the Orient Mako or Ray they are a great mix of casual and classy the case size is 41mm in diameter so a little out side the range that dutch man had stated, and the blue one is beautiful
Seiko SXK007 (3rd in Gilatabar's pic). It can be dressed up or down by just changing the strap / bracelet. Same with the Orient Mako or Ray. I think the Orient's are classier therefore dressier.
I agree about the Seiko 5 line. I own one (of their automatics), and those are a good fit for these criteria.
This here. I have the SNK809 and I love it. I actually prefer the smaller size(37mm). The only slight drawback is the 18mm lugs, which slightly limits your strap options. There are plenty to choose from, just not as many.