I bought this watch to use while training for the Chicago Marathon. I've had it only 4 months and here are some of the basic issues that I've found.
Cons:
1. Rechargeable battery: you are dependent on something that has a USB port to charge this watch. I was in a hotel the night before my marathon with no computer to hook this USB to. It does not have an over the counter battery option to bypass this.
2. Setting Time/Time Zone: once again, you need a computer to set the local time if you travel out of your time zone or there is Daylight Savings. You need to be able to log onto their website to set the time, there weren't any other options. I tried to set the time at work, but our work computers would not allow us to download outside programs for instance during the latest Daylight Savings switch - basic stuff you could do on most any other watch other than this one.
3. Very inconsistent software. It was heartbreaking to lose data on nice long runs because it couldn't download to the nike+ gps website. I used to like the Facebook broadcasts it could do, but even that became so inconsistent that I was just happy to see if it downloaded my latest run without issues.
4. The plastic band started cracking around the USB connection on the watch. It was a matter of time before the connection would be compromised by sweat or water.
5. Inconsistent battery life. I had this charged fortunately through a friend's computer the night before my marathon. During the actual event, it died on me. I had no idea what pace or chip time I was running at that point - I only had the course gun time to go by and when you can't recall exactly when you crossed the start line in huge events like this, it was really frustrating.
6. Pick up of satellite reception got worse as time went by. It was quick the first month or so, but gradually got worse even when I was going to the same places to run where it had worked fine previously. It has a backup with the foot pod, but that was all that was working towards the end.
Pros:
1. It is more stylish than other GPS watches.
2. It does run/rest ratios though a vibration mode would have been nice since sometimes you can't hear the beeps that tell you when to pick it up again.
3. Fairly user friendly. Scroll features like time, elapsed time, avg pace, pace, distance, and history of runs were easy to navigate through.
I talked to sales reps at our local running stores in Boston about their thoughts and they admit they've had to return a bunch for similar issues. They admit it's on the cusp of the low end GPS watches so you get what you pay for. I'm giving this another shot by returning it during it's one year coverage. Sales support is very good, software support less so at Nike. I'm serious thinking Garmin next time if this second chance does not pan out.

Overall a great watch much easier to use then the Garmin products, IMHO. It does not have a lot of bells and whistles -how many of those do you really use anyway? Now the con(s): The Interval Timer. I was shocked to learn that 1)There is no way for the user to input seconds ie 30/30 And there is no repeat function. ie 30/30 x 12 and as it turns out the Interval timer didn't function properly anyway it kept wanting to reset after only a minute.So back to store it goes.[...]

I PURCHASED A NIKE GPS SPORTWATCH OVER A YEAR AGO & NOW HAVE PROBLEMS WITH MOISTURE ON THE INTERIOR.I CALLED NIKE SUPPORT ON 06.03.12 AT 11:30AM PST. TO DISCUSS SERVICE OPTIONS & WAS TOLD THAT THE WATCH IS NOT SERVICEABLE.THAT'S RIGHT…THE WATCH IS NOT SERVICEABLE!YOU CAN IMAGINE MY SURPRISE… IN SHORT, THAT NIKE WILL NOT SUPPORT THE DEVICE BEYOND THE WARRANTY PERIOD!OF COURSE, THIS WAS NOT DISCLOSED AT THE TIME OF PURCHASE, NOR CAN IT BE FOUND IN ANY DOCUMENTATION FOR THE WATCH.SO HERE I AM, ABSOLUTELY PERPLEXED AT THE IRRISPONSIBLITY OF NIKE TO STICK ITS CONSUMERS WITH A [$] DEVICE THAT IS GUARANTEED TO WORK FOR ONLY (1) YEAR…PERIOD.IN ALL FAIRNESS, I WAS OFFERED EXPEDITED SHIPPING FOR A PURCHASED REPLACEMENT...DOES THAT MAKE SENSE TO YOU?! ARE YOU KIDDING ME! PLEASE FEEL FREE TO CALL NIKE TO CONFIRM.-M. Anderson, Seattle - Washington