I haven't come across any specific implications about watch wearers. Of course, issues associated with watch-wearing are interesting.
The most obvious of these would be a preoccupation with time, which, barring any reason to make such a preoccupation necessary, might be viewed as obsessive behaviour.
I once looked after a kid who was on the slow side - he was from an inbred family, and while he didn't fit the criteria to be classified as intellectually disabled, he was quite visibly below average in intellectual ability. When he was removed from the family home by order of the Family Court (mom was breeding him to be her next sexual partner), he had to call his mother at 7 every evening. At 6.57 he would start staring at his digital watch (which he NEVER took off) and remind me how many minutes there were to go till he had to make his call, every minute on the dot.
Eventually, this got really annoying for my colleagues and myself, so I started a systematic desensitisation program. I started all the kids on their household chores at 6.30, so that they would be done by 7. Over the course of a few weeks, I moved the start time slowly up to 6.45, and initially this kid made a big hue and cry about not being able to make his call at 7 sharp. However, over the next few weeks, he found that he could make his call at 7.15 and still be all right, so I never heard him whinging about calling at 7 sharp again.
Of course, watch-wearing may not be a matter of time at all. Both my Rolexes are COSC-certified, making them the most accurate mechanical watches around. That said, I'm almost always late for wherever I'm going.
In my particular instance, the watch is more of an accessory than a timepiece - hell, if I wanted to tell time, I'd wear a Seiko. This brings us into the area of social psychology.
I use a Rolex as a conversation piece - there have been many instances where I've struck up a good conversation with a complete stranger who also happens to wear a Rolex (they're usually pretty well-heeled and high-powered, but that's another matter altogether
). To some extent, what we wear reflects our personalities, and it's a useful tool for identifying common ground.
Just a few weeks ago, I struck up conversation with an Australian film producer who happened to be wearing a Rolex. I found out that he was a 20-year veteran of the Australian SAS, and he had a very utilitarian view about owning his watch. Specifically, he said, "This is one of the few watches that you can trade in for a first-class ticket home when everything else has been stolen".
He also observed that, when doing business in Asia, a Rolex states quite loudly that you mean business. Personally, I've found that a bit of Swiss bling can be quite unsettling for non-Rolex wearers - it's a subtle but effective tactic when negotiations get tough.
Note: the above isn't about bragging rights - it's written as an illustration of the social psychological aspect of the subject.