I recently got my hands on one of the Tech4O Trail Leader 1 running watches and I have been very impressed with the features. The watch has a built in accelerometer which allows you to measure your running and walking distance once you have calculated your average stride distance (easily done at the Tech4O website). In my tests, once calibrated, the watch was accurate to within 10% on my runs. The accuracy was greatly increased (within 2%) if I used the watch on the treadmill and kept my pace at the exact same pace as what I used when I calibrated the watch. I think this is due to the fact that as my pace changes so does my stride length.

Tech4O Trail Leader

Other great features of the watch include a thermometer, barometer, altimeter and compass - this makes the watch a great tool for hiking and other outdoors exploration. And since there is no wireless communication the battery does not require recharging every day/week and will last for a long time.