Problem is, 'immersion' means the watch was lowered (carefully) into water to 1m deep for 30 minutes. The mere act of flopping your hands around in, swimming, and god forbid jumping into the water would almost definitely cause it to leak :-( IP67 just ain't good enough for swimming and probably even not waterproof enough for having some good fun with the missus in a hot tub, but OK for showering and washing dishes.
As said before, there are a lot of really nice microbrands coming out... Here's a good Facebook page for some microbrand watches: https://www.facebook.com/groups/265562160234660/
I'm REALLY liking it, despite the fact the reason I like watches is because of the mechanics, being an engineer... But this is great all around (except for the lack of a mechanical movement)... Titanium, large diameter, multiple watch faces/functions/colors. Now, if it's waterproof, I'm getting one! Edit: oops... just read splash-proof IP67 rating :-S