I love these watches, great for first time modder's (like myself) and there're tons of aftermarket parts available for them. You can pick up an Invicta 8926 "Submariner look-alike" on Amazon for ~$80 shipped to your door within 2 days and they come with the Seiko NH35a movement (which hacks and hand winds). Good luck finding a similar featured micro-brand watch for anywhere near that price!
Ground off the engraved "INVICTA" logo from the side of the watch and re-polished the case. Simply replaced the dial / hands / bezel and bracelet clasp with a custom laser engraved milled clasp. Have less than $200 invested in this one.
I was a little more adventurous with this one...
Ground off the "INVICTA" logo and removed the Crown Guards. The rest is standard fair, also added a Parnis P210 bracelet with solid endlinks.