I like the old Wavy Blue dial better too. However, the Seamaster is a great watch. I'm wearing the Chronodiver (with Chronograph) version and it's fantastic. The bracelet is extremely comfortable, the clasp is very easy to use and generally the watch is excellent. It's probably the best value chronometer you can get for your money. FYI the old Wavy Dial Chronodiver is still available (Moded Valjoux movement, well known to be extremely reliable).
I wanted to go for the regular 300m, but ended up getting the Chronodiver because it's thicker & heavier (wears bigger), and I like the extra chrono function. The Chronodiver is also the first Chronograph in the world that can be operated underwater. It has some impressive history behind it.