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I regularly wear one of my two nice, heavy expensive (by my standards, this means more than $1500 or so) watches (when I'm not too freaked out about getting mugged for them) and never really get any special attention from cougars and their ilk. Sometimes people compliment them, but in a sincere, "I recognize that watch" way. I think that there are so many guidos out there wearing flashy watches that aren't really that expensive that I don't think the diggers really notice subdued ones.
Or maybe my watches don't cut it, and it's not until you cross the five figure barrier that these types come after you.
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