I have a Polar FT40 and like it a lot. It's recently been having some problems but that was after 2.5 years of rather heavy use.
One thing to keep in mind is Polar has a 2 year warranty but only if you buy it from an authorized seller. You can go on their site and see which ones are - there are LOTS of choices including online retailers like drugstore.com, Zappos, Eastbay, Overstock, etc. (Amazon used to be but I don't think they are anymore - probably too much confusion since there are so many amazon marketplace sellers too.) Obviously if you get a much better deal outside of those places, let's face it you probably won't have problems with it anyway. But if it comes down to 2 places with the same/similar price and one has a warranty and one doesn't, may be worth going for it.
Garmin is a good brand too. Just keep in mind that if you do end up getting one that has GPS features on it, you may need to get the optional footpod accessory as well for indoor use. They do have hrms that don't have GPS features on it and I know you said you don't need GPS, but just mentioning it just in case!
~ Started 3/5/11 ~
Goal #1: 5% (-14) - 4/16/11 * Goal #2: 10% (-28.7) - 6/11/11 * Goal #3: 236.8 (-50) - 8/6/11
Goal #4: 211.8 (-75) - 10/29/11 * Goal #5: Onederland! - 12/17/11 * Goal #6: 186.8 (-100) - 4/28/12
Goal #7: 175
Goal #8: 161.8 (-125)
Last edited by Somni; 09-27-2011 at 08:22 AM.