This watch was designed to impress womenfolk and it seems to do so rather nicely. This requires very few parts and can be built for around $30.
I made this a while ago, so the pictures are scant. I will post more detailed instructions soon.
For now, here's the schematic, note the transistor is backwards
JP1 Goes to the LED chain, CN1 is for power. the extra IC is just for aesthetics.
These are all the parts, except the PCB. The total cost (excluding the leather watch strap) is around $20. Once again, the third chip is just for looks.
Time can be displayed any way one can program.
In this photo, the Red LED is the hour, Green is the minutes (in 5 minute increments) and the Blue marks the seconds. The white light is just a chaser light for flair.
In this photo, the start LED marks the hour, the length of the line marks the minutes in 5 minute increments. the end of the line fades in and out. It reads 10:50(ish). This version will last about a month between charges, checking the time obcessive-compulsively and showing off.
My next version will dtch the external RTC and use an asynchronous timer on an atmega328p. It will have various other bells and whistles like a universal remote (not just tv-b-gone!) and a snazzy steampunkish brass housing.