Sooner or later, this thread will be needed - might as well start now.

My current strategy is buy the cheapest Apple Watch, and then put on third party metal straps.

I've found the following leads for 3rd party straps.

Click - Watch Band Adapter that allows you to use normal straps (kickstarter - I've actually supported this):
https://www.kickstarter.com/projects...or-apple-watch

Monowear - Third party nylon, leather and metal straps (kickstarter)
https://www.kickstarter.com/projects...every-occasion

Reserve Strap - A strap with a battery and charger built-in
Reserve Strap

And some non-metal ones on Amazon or eBay:

ULAK:
Amazon.com: Apple Watch Strap, ULAK Bracelet Wrist Watch Band 38mm Real Geniue Leather Canvas Wristbands Replacement Wrist Band with Chrome Stainless Burnished Buckle Clip For Apple Watch&Apple Watch Edition 2015 Release (Black): Cell Phones & Access

BaseUS:
Amazon.com: [AERB Edition] Baseus iWatch Genuine Leather Replacement Strap Wrist Band Straps for Apple Watch 42mm Classic Buckle & Modern Buckle: Cell Phones & Accessories

Hi5Gadget:
http://www.amazon.com/gp/product/B00...5K5IHX6FTI4DYA

I'm sure more will come with time - anyone know of anything else?