With regards to the weight point, I think you're right Warren, but I was thinking more in terms of strenght vs. weight in a complex shape, and as it turns out thats exactly what "StanTheMan" wants to carve out of his CF block..

personally I would make the watch case as a "forged carbon" part.. I.e., shredded CF with Resin stuffed into a metal mold, and precision cut pieces of very fine weave prepreg CF for the top and bottom layers.
Use high pressure "workshop hydraulic press" and heat the mold with an oil heating system.
I'm working on such a setup to make CF / Carbon Nanotube rifle-scope mounts. They will have molded in threaded Titanium studs for the assembly screws..
"Sapere Aude"... Dare to KNOW!
The written word is the only truly efficient vehicle for transmitting a complex concept from mind to mind...
103% of all people do not understand statistics...
Do not adjust our mind, theres a fault in reality :-)