is it just the watch or does it have the transmitter with it?
The OCS is NOT air integrated, so there is no transmitter. All it comes with is the original box and the extension strap to fit over cold water wet/dry suits.
Here's a link to the OCS specs on the oceanic website:
OCS
Just click the specs tab!
Although the watch is not air integrated, it has all the other features you would want in a wrist mounted computer - especially the oceanic algorithm that will give you some really nice bottom times, especially on repetitive dives. Of course, you can also adjust the watch to be more conservative, if you like. It has easy to navigate menus, useful alarms that are easy to configure, on the fly gas switching if that's your thing, and a built in compass. As a recreational diver, it has you covered for everything you would need and more.
Of course, my favorite feature about this computer is that it looks less like a dive computer puck, and more like a nice watch. I feel very comfortable wearing it while on vacation, and don't mind leaving my regular watch at home. And even though it looks nice, it doesn't look like "bling! you should rob me for my watch!"
I hope this info helps!