A 4r movement watch can be had for <$250 shipped now 21jewels.com. Still can't find anything technical on it anywhere beyond what is listed below and what I found on Yeoman's blog about it not hacking or hand winding......
Product Code: SRP015K
Our Price: US$249
Seiko Automatic SRP015K
Calibre: 4R16 (22Jewels)
Crystal: Hardlex dome crystal
Dial: Black with polished index markers and large luminous numerals
Case: Stainless steel
Case diameter: 45mm incl. crown
Case thickness: 11.5mm
Water resistance: 100M
Bracelet/Strap: Tan leather strap with white sticthing.
Packaging: SRP015K is new with manual and warranty card