As for water resistance, I was surprised to find the words remained visible and legible after being soaked with water, and then brushed with a waterbrush. The ink does lift off the page and tint the water, but for a liquid ink, it holds up well.
Take a PeekThe Pen Addict (0.5mm review)
JetPens - $1.80
Do you like liquid ink pens? I highly recommend this pen, unless you need professional boring colors for work or some other sad thing like that. This is definitely one of my favorite liquid ink pens - up there with the Pilot Precise V5. Isn't it an honor to be among those ranks?