Cosmo is quite right about CZ vs diamonds.
When you judge a watch, you're often judging the person wearing it. If they don't look like they'd spend half a million dollars on a watch, it's going to look fake. That's the downside of bling. If you have a rap record contract it looks good, if you work in McDonalds, not so good.
In fact part of the problem with CZ is that it looks unrealistically good to the naked eye - it's perfect, colourless, flawless - only the very best diamonds could match it, you would have to be very wealthy to afford the real deal. And of course, no manufacturer in their right mind would use top diamonds in a watch either.
One thing I could be persuaded about with rep watch CZ though is that it is might be cut and set badly - and look poor because of that. (Not to mention some of the haphazard placement mentioned above). A watch dial setting also isn't a solitaire ring setting.
Just my two cents....