My father has two Rolex watched, both 27 years old (purchased by his parents) and never has had any problems except the service and parts costs :P
1x Datejust (blue faced) - his dad's watch
1x Submariner - stainless - he wears this every day for most of the 27 years, except when sailing.
I am not a fan of gold watches at all, i much prefer the grey metals - stainless steel, platinum, titanium etc.
I would like a Datejust though, however, the situation i am in at the moment would make me a bit out of place with a Rolex.
You dont bring a gun to a fist fight
And in regards to the hundred thousand dollar watch:
I know someone who wears Audemars Piguet watches, One costing nearly 100,000 AU. Its pretty nice, but its a bit extravagant and a bit of a wank in my opinion.
I dont think there is a need to wear such an expensive watch other than for blinging.
There are a lot of people at school with the fake Rolex watches. None of them have the sweep hand. Rolex dont have batteries!!!