I can totally empathise. I hope it's a cheap repair, or at least you can easily get a new movement installed (I'm sure the folk here can help you do that yourself). If you'd bought a $500 Seiko, you'd be furious if it was DOA.
It helps to remember that most of that $500 goes on the attention to detail in the construction, that's what you're paying for really because we end users are so fussy! I guess the movement, assembly costs and profits are a relatively small part of that, so your investment is still more or less intact!
Probably every rep I buy, I mentally factor in the cost of a new movement because it could run forever - or be a time bomb. I think the CF Explorer would be worth a quality movement - personally it's a keeper and I'd happily drop $280 on a Selitta or whatever in the future, which I wouldn't say about the BP Explorer with the wrong size lugs and bracelet, although it's still a quality piece...