The Reebok Precision Trainer ($50) is strap and watch heart monitor.  Features include a bike mount, calorie counter, alarms, profiles, and memory.

Heart rate monitors come in two varieties, strap and strapless.  Strapless monitors use electrical pick-ups on the watch.  The Precision XT uses a chest strap to pick up the users heart rate.  The strap is comfortable, but it does take some time to become accustomed.  There are two parts to the strap.  The front part includes to sensor.  The back is an elastic strap with a cinch adjustment.  In our tests, heart rates fluctuated more than seems normal.

The watch is a bit larger than the typical sports watch.  It has a three line display.  There are 20 memory slots.  There are three different modes:

• Time mode - provides the standard watch features including time (12/24 hr), day and date
• Timer mode - helps to build an effective training program; the trainer stores information about the users gender, weight, height, age and activity level; it uses this information to build the intelligent training program; this mode helps maintain targeted heart rates; this mode also captures and stores calories burned, heart rates
• Chrono mode - this is the standard stopwatch mode; includes a warm-up period; heart rate and alerts