didn't bother with the 1st edition but just ordered the nike+ series 2. Think it's a cool watch (especially after placing the order), fits my running needs now that it has GPS, water resistant, & 2GB memory for a playlist so you can go running & play music via Bluetooth and leave the phone at home.
I'd recommend the 42mm for extra screen as maneuvering around the small screen with my clumsy finger was a bit weird.
So ya, great addition to the collection... to me