I have the Body Media (gowear fit). It was cheaper and I think it does the same thing. I wish I could wear it in the water, but can't. I love it, have been wearing mine for about 7 months. It helps to keep me in check with how much I am burning and what I am eating since I log my foods on to it. I don't notice it on my arm anymore and have jumped in the shower with it, but once the water hits my arm I remember to take it off.
I have the app for mine on my Ipod touch, they came out with a Bluetooth version right after I got mine and that will sync with the phone. I just have to plug mine into the computer and then it will sync with the app. I can log foods anytime though.