Got this in yesterday from Jomashop. I had a little difficulty setting it up and at one point thought it was defective. I couldn't set the month or date or get the stopwatch function to work right. I followed the instructions that came with it and watched the video from Victorinox and it still wouldn't work right. I then discovered that you have to calibrate the stopwatch first by setting all 3 hands to 12 and the two number wheels to 0. Then you can go back and set up the hour, minute, year, month, and date and everything then works perfectly. The instruction pamphlet doesn't even show you how to calibrate the stopwatch and their video shows it as the last step when it should be the first. Once set, the calendar is perpetual so you never have to reset anything until you have to change the battery. It takes a large 3V CR2320 battery that can last at least 5 years.
In time mode the 2 number wheels show the date and in Chrono mode they show 100ths of seconds. The movement is a unique 5 motor quartz one made especially for Victorinox by a Swiss company called Soprod. The minute hand moves once every 20 seconds and the hour hand once every 6 minutes and keeps perfect time. I love the watch.