I wish!
I'm using a Panasonic Lumix DMC-FZ20 (5MP with a Leica lens). It's amazing if you have enough light and a liability of you don't. Stuff you don't need for general watch photography: Flash or Macro. A light tent and a tripod will make up for poor light, but a couple of table lights and manual white balance will get you out of too much trouble.
Oh, and mastering Photoshop is an excellent idea, but as always, it's best to get as much as you can in the lens and use Photoshop to turn the picture into what you saw, not what the camera captured. It's a balancing act, but look at TTK's photos for what can be done if you have both time and talent.
You can see some of my stuff here:
http://www.rwg.cc/members/index.php?automo...um&album=38