Rolex styles are for the most part, very conservative (save for their iced and bling'd pieces); that said, they do not follow the majority of fashion or other trends as some other brands might. Instead, they continue forth with a clear, concise brand identity with designs that stand the course of time (and are unmistakably Rolex).
While their designs may be rather staid, their technical innovations are not. As a true manufacturer (i.e. one that produces 99%+ of their watches and all components in house) Rolex is one of the few brands at the leading edge of new innovative development (the number of patents that they file for per year is proof of that). Take their in-house developed 4130 Daytona caliber for example (superceding the Legendary El Primero 400). This is a movement that has been engineered with efficiency in mind- In terms of production, layout, serviceability, function, etc. it is clearly innovative thinking that brought this caliber to fruition. Layout of this movement is such that winding and chronograph functions are under their own respective bridges, hence dividing the functions for easier servicing I believe). The balance has it's own bridge (not [censored]) for better stability, and the vertical clutch for the seconds hand eliminates that little seconds jump that we are all typically accustomed to when starting the stopwatch function on most watches. All this in an efficient sized 30.5mm x 6.5mm movement with 72 hours of power reserve running at COSC spec.
Rolex's advancements and improvements are not so much on the outside where all can see; rather, they are hidden under a closed caseback. So... What are you buying with a Rolex? Mostly a name with worldwide recognition... But you also get a timepiece that does it's job well