Couple of comments from a multiple mechanical watch owner, Rolex included --
If you think a Rolex is a waste because a Timex/Casio/etc. can keep time, remember a Jennings pistol can fire too. And an AK for that matter can too. Doesn't mean everyone will do it. Many prefer not to.
That being said, Rolex's are not the nicest, the fanciest, the most reliable, or otherwise most notable except in prestige points. There are fine watches out there that can outdo the rolex in any or all categories. Some (like Oris), come very close to the quality and do it cheaper, and some (Breguet, Vacheron, etc.) exceed it for more $, and some (Chronoswiss) simply do it differently and often in a very pleasing way.
I highly recommend http://www.timezone.com -- it's a watch forum with the attendance and personalities of AR15.com and is a blast if you're considering the mechanical watch angle.
Guns, watches, fine automobiles, cameras, RC modelling, among other hobbies cross over heavily -- we seem to be attracted to BEAUTIFUL, MECHANICAL, FUNCTIONAL things. Not knickknacks, not tools, but items that uniquely and gracefully encompass all three of the above. If you love guns for this reason, learn about watches, you won't regret it. Soon, you won't see how life is possible without a sapphire crystal. A tourbilion will make your knees weak. A grand complication will make you salivate. You've been warned.
-Dan