The Waterman Phileas is a discontinued FP that I read too many good things about on the stationery blogs to pass up on when the opportunity came to get a new-old-stock sample.
The body, cap and section are shiny plastic, a very dark brown on mine. It has a very positive snap cap with a great spring loaded pocket clip. There is a brass tube in the body to lend it some weight and give it a feeling of high quality.
The bicolor steel medium nib is big and performs quite well, perfectly smooth and skip-free at all after a good soapy flushing, even when writing very quickly, a tad dry for my taste though. I actually enjoy the art deco styling of the Phileas, some people are turned off by it. The longitudal slots designed into the section do neither annoy me nor help with the alignment ob the nib.
Overall, I would rate my Pilot Lucina the better pen because of the outstanding Japanese steel nib, but when you happen to get a Phileas for a good price (around 40 dollars or so on the used market), you will not be disappointed. I would, from what I´ve read, stay away from the fine nib and go for medium or broad instead.
Waterman FPs use proprietary cartridges that look very similar to international longs. The size comparison pics show the Phileas with an Expert workhorse and the very slim Hemisphere model.