Where's the risk if they'll replace any water ingress under the standard warranty? They have no way of knowing if you exceeded 1 meter for 30 min.
I am not sure I'd want to be the person to test this out. If Apple knows the watch is much more water resistant than advertised, I am not sure your water damaged watch would be repaired under warranty. I do wonder if anyone has taken a watch in due to water damage yet though.
Watch will be the largest selling single model of watch ever (and as of now likely the largest number for any Smart or Sports watch delivered). So in absolute numbers you would expect water damaged threads. It is looking like a water proof 'tank' advertised as a water tight 'Humvee'.