Back in the day, people set their watches and house clocks to "central clocks" like those in a bank or a railway station or the town hall and they did this frequently .. like every few days. Time was communicated to these central clocks from intricate master clocks capable of 0.0002 seconds a day accuracy, via telegraph and such. When the telephone was invented, you could call the phone company and they could give you the "official time" to set your house clock.
You wind your house clock every couple days, and reset it's time.
What you say about your watch not performing like a gen .. I beg to differ .. 5 seconds a day is VERY gen-like. TEN seconds a day is considered the very edge for a respectable timepiece. Watches which can be adjusted to multiple positions have multiple setting areas. and I quote:
Also, let me correct something I said earlier .. a swan neck regulator is just a fancy spring loaded timing adjustment, not a temperature compensation device. Temperature is compensated by a bi-metallic balance wheel.