Well if the housewife from Orange County is any indication
A couple of thoughts pop into my head about this:
One, why is Rolex coming out with so many iced out models if the trend is heading in a more economical fashion - they smoking dope?
Second thought is that, like Doc said, there will always be an upper class to buy, but I also think that "boys like their toys" and I think the market will still be there amongst the middle class...perhaps with more pressure on the brands to hit the right value points (listening Rolex )