Having worked several long codes, I've never taken my watch off either. Honestly, you need the watch (down time, time for meds, etc). It's just one more thing to lose as well.

OK, yeah, I can see walking down the street and having a purse if someone keels over. Most medics I know give the old "EMT Salute" and keep walking in those situations. In CA, I've always been taught that Good Sam laws don't apply to trained personnel. So, rather than risk any legal action, they just do like the normal bystander and don't identify themselves. Questionable ethically, but probably smart legally.