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Got a new strap, figured out how to "pair" it (which involves a sequence of removing/installing the battery in the strap AFTER you tell the watch to pair...nuts) and now it works flawlessly. The new strap is a lot better at creating a contact on your chest and it hasn't missed a beat.

Thanks for all the useful replies though (insert sarcasm). not.

	Suunto Bands - Click for more info The range of Suunto Core Acessory Straps include the six straps as found on the various Suunto Core wristop computer models as well as three additional straps. All straps are compatible with every Core model, allowing you to custom-tailor your Core to your tastes and needs.