Well, I'm not a Rolex guy myself, I generally avoid expensive watches because there's too much risk ruining one and feeling really bad about it later on.

For some time now I've owned a CWC British Army watch. It's actually an old one, made in 1991 and repaired to mint condition. I have heard the older, profesionally refurbished CWC watches are in fact a lot better choice than the new ones because the quality is no longer what it used to be. You can see a picture here (right on top):
http://www.armywatch.co.uk/watches.htm

As far as an EDC watch goes, I couldn't be happier. It's inexpensive and keeps time very accurately (I've actually tested it and it's like +/- 4 seconds in about a year now). The watch is also very tough, which is important to me. Being Johnny-on-the-spot more often than not, I get called to fix something at work regularly so my watches have to stand up to some abuse. The glass on that CWC is darn close to unbreakable. One time I had to do some emergency rope climbing (...don't ask! lol) and forgot to take off the watch. It was a pretty difficult situation and I accidentally hit the glass square on, full force as I pulled up and rolled over the top of the wall. Enough to smash pretty much any watch but the CWC survived it only with a scratch on the glass.