How is it that Timex says many of it's watches are water resistant to 100 meters yet not suitable for diving? I've ruined two watches now.

Depth ratings on watches are based on static pressure loads. A 100 meter rated watch will withstand static loads of 10 atmospheres, or 10 times atmospheric pressure. If you just sit still underwater, the static load and dynamic load are the same. If, however, you swim, move your arms, press the watch against your body, or strike it against any object while at depth, you could easily exceed the 10atm of pressure (this is called dynamic pressure). Many 100m watches won't stand up to this abuse, though some will. I had a Casio dive watch rated at 100m that I used for 10 years without any problems at all. As someone noted above, having all the buttons greatly increases the avenues of water penetration. Even if you don't press them, there are still openings through which water can enter.

Does it include a pedometer? Or does it just count laps?

Thank you for your inquiry. This watch don't have a pedometer feature it just count laps.

Does it have a setting for no beeping?

Yes when you set your time. You keep clicking through and you can turn off the chime and the hourly beep.

How do I set my ironman watch? And does the backlight stay on permanently?

Hello Dan, thank you for your inquiry! You can access the instruction manual of your watch at http://assets.timex.com/manual/W-209.pdf to assist you with the watch setting. The INDIGLO night light feature will stay on for 3-5 seconds after you pressed the INDIGLO button or it will stay on as long as the button is pressed.