I'd be curious to see what real world testing/results dictate. I don't necessarily see Suunto as a company whose products are worth their price tag. For reference, I own a Suunto Core ($300), and my buddy owns a High Gear Axis (that he picked up for $40 on STP). The bezel on my Core popped off within the first week of use, and the backlight button barely functions after 2 years, a common occurrence according to the internet. My friends Axis gives altimeter readings just as accurate, if not more, than my Core. That's with frequent calibration on both our parts. For general backpacking, his watch does everything my watch can do.
Battery life...well, I hope that 50hr estimate accounts for real world conditions. I find my Core suffers in cold weather performance. If I leave my watch out in my tent and the temperature drops below 40 degrees, I can almost guarantee you that the watch will be dead by the next morning. I'm forced to sleep with the watch on to keep it warm, which in turn renders the alarm useless since its quiet and inaudible when buried within my sleeping bag.
oh, btw, the Core's advertised battery life: 12-18 months!
I realize that this new watch is on a completely different power system than my Core, utilizing an internal rechargeable battery, and not a disposable cell battery. Still curious to see how it holds up in colder temps though.