SEA Elite has been around for a while. It's the "store brand" for the Divers Supply chain of dive stores.
Most folks that own their gear have no complaints. Most of their gear is made by the same OEM that makes a lot of other brands such as Dive Rite, Salvo, etc.
I've got one of their Tek BC's that I bought many years ago and I've been very happy with it. I've got maybe betweeen 50 and 80 dives on it and it's still in great shape. The only real difference I can tell after all that time is that the fabric is now much softer (which is expected in any BC) after that many times in the water. Also the weight pockets fabric had a protective lining that is showing a little wear, but that's because I use hard weights in it instead of soft weights a lot of the time. (this minor issue is solved on the new model as they have redesigned the weight system).
They've changed the models design at least twice since I bought mine, but the basic design is mostly the same. Most of the changes are feature type changes. For the cost, it's a good BC for the money.
Some changes that I noticed it had since my model was the front pocket, double air dumps (either side) and the rear D-ring, which is nice for a crotch strap.
Hope that helps. post or PM if you've got more questions.