I actually have a f5, f5x, fr 230 and va-hr on the same account. Based on what I'm doing, I just grab which ever one I want to use.
There's something called "TrueUP" which will keep your 24/7 activity data in sync (after they have synced all watches with show the same steps, etc, regardless of which was used. For activities and activity related things (ie vo2max), that is specific to the watch, and isn't shared, so if you record a run on the 935, you won't see it on the fenix, and the vo2max on the 935 will be different than on the fenix. Garmin Connect/Garmin Connect Mobile is where you can see the device specific data for all your devices.
BTW, been doing this for some time with TrueUp, and it's working great for me.
As the title say's "Awesome" and thanks for the information. The VO2max is okay for me and specific activity info makes sense. Is "TrueUP" part of Garmin Connect? I'm going to research it after posting this. Thanks again, I really appreciate! Also found info on "TrueUP", thanks again.