Welcome to the marvelous world of automatic watches, and to WatchGAF
First, excellent approach, start with entry level/simple designs to get accustomed to the item is a very commendable attitude.
Second, we could definitely propose a few alternatives for an affordable auto - Seiko, Orient, Tissot comes to mind - but honestly, Ham is in the same league as those, and therefore I would not say any of those is 'better' or should be 'avoided' at all cost - especially in this price range.
In 2 words, good choice
A few pieces of advice though, if I may:
- I think you can still bring your budget down to $400 and get a similar movement (ETA), with similar complications (date and small second), but it's a question of design and taste at this point.
- It's usually the other way around for pricing - internet is generally more affordable than retail. I am definitely not a specialist for Hammies, maybe Jason Ultimatum who sometimes posts here can help you as he owns one and did long research before jumping on the Hamilton bandwagon. But a quick search on the usual suspects (jomashop, amazon, longisland...) tells me this is a very competitive price indeed.
- Don't trust watch manufacturers in general when it comes to water resistance, in my experience only swim with real divers (I mean 100m+, not 50m)
- ENJOY YOUR TIMEPIECES!!