The Speidel arrived today so I'll share my thoughts! Since it's so hard to find any hands-on discussion about the watch, I'll compare it to the Casio A168.
There are no real surprises... it is indeed a simple modern digital watch with a steel case. The Speidel's module is pretty much a Casio clone which has the same layout and features as the A168. It has a very bright blue EL backlight with "afterglow" as Casio calls it, and I think it's nicer than having to hold down the button on the A168. If you didn't like it on the A168 though, I don't think you'd like this any better. The vertical viewing angle is not quite as good as the A168 (you start seeing the "background" characters on the display more easily), but the Speidel's digits are much darker and clearer than the Casio in person. I tried the "secret" Casio button combo which activates a screen test on this module. The alarm is a bit quieter than the A168, I'd say it's more like a G-Shock.
The case has a nice weight and seems to be machined and brushed pretty well without any sharp edges, I can't really fault anything about it. Never having to worry about scraping or gouging an angular chromed plastic case is a huge upside for me. The caseback is a friction fit. Tapping on the crystal does feel like mineral rather than plastic but I suspect it's pretty thin. The light button is a bit stiff but everything works and there's no wiggle anywhere. Size is pretty much perfect for my taste, bigger than the A168 but still easy to forget it's there. The bracelet is 20mm at the lugs tapering quickly to 18 and looks way nicer in person than the stock photos and is very comfortable. I actually really like it and haven't had any hair pulling yet. The "M/L" size I ordered fit my ~7.25" wrist without adjusting.
The biggest knock against the Speidel is that the module seems to be sitting a bit too far down in the case which reveals a black line at the top of the screen. It's really hard to notice in daylight to be fair, and I think you may even be able to see it in the stock photo. I wonder if it's possible to adjust it with a toothpick or something but I don't really want to take the back off just yet. More official water resistance would be nice too.
Overall, I think this watch is definitely worth a look and is notable for being such a rare example of a steel cased, utilitarian, currently produced digital watch. I really don't understand why this type of watch hasn't been reintroduced more, I think something like a steel Casio Marlin reissue would sell given some marketing. This watch could also use some more marketing among people like us... it's extremely obscure as it is. So, if finding a watch like that without taking a risk on vintage is your unicorn, I think you could definitely be happy with this one.
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Here are some quick photos, let me know if I can answer anything else about it. I tried to get an EL photo to show the little black line but am having a hard time getting my phone's camera to focus enough to make it visible. You can kind of see it next to the A168.
