Ironmanin Training-I used to do ironmans (5 of them between 2002 and 2005, then life got in the way and shifted to only running). During that time, Garmins for running were not out yet, so Polar was our only option for monitoring HR. I never monitored my HR while swimming in training, but did use the polar in races and never had an issue swimming with it. Mine was a higher-end Polar, so I can't speak to how the basic models tolerate swimming.
As far as your question about returning to pre-op levels and what training was like when I was first getting back into it. I never did return to pre-op levels, but I should add that before I had my BAV procedure done (June 2010), I was pretty much near my athletic potential. I was 38 years old and been very consistent with my running and was averaging 70-90 miles per week for quite some time. These days, I cannot imagine even coming close to those levels again; mainly because my motivation to train at that level again is simply not there, I am up about 20 lbs and I am a few years older. Additionally, my running has not been as consistent as it was before my my surgery. I think my body was ready for a break having been so focused on endurance training for almost a decade. With that said, my statement of not returning to pre-op athletic levels may not be as meaningful. As far the precautions I took when I was getting back into it, I was a slave to my HR monitor. I did not start running until about 3 months post op. Once I started running again, it took my heart about 3 months to get efficient again. By that I mean during the 3 months, my HR was very volatile. I would be on a run and it would easily go from 140-145 just by hitting a slight incline. It was frustrating, but I stuck with it. After about 3 months, I could go on a run and fall into a groove and my HR would be very stable, only moving up or down by 1 BPM. These days I will only check my HR about every 1/2 mile or so. I also think it is pretty normal to be very cautious with our HRs after our surgery. I will say, once I got past the mental barriers, I was a bit more comfortable pushing the HR. This past Thanksgiving, I did an 8K Turkey Trot and went all out from the start and held on for pretty much most of the race and was not too concerned with what my HR was doing as the rest of my body felt good. I hope that helps.