I agree. It's pretty obvius that the wristwatch as a method for telling time is obsolete in contemporary society (My Pasadena runs fast, and I have to synch it every so often with my microwave clock!). However, that means the watch has been released from its primary role as a time telling device. Sure, the lowest end of the watch market will suffer when people stop buying a 10 dollar cheapo watch. But I don't think that the more expensive watches worn as jewelry will be going away any time soon. If anything the past 5 years have shown a renewed interest in all things horological!