Any guy wearing designer jeans is a fag. Not necessarily gay, mind you, but definitely a fag.
Any guy wearing an attention-seeking graphic tee is a fag. Period.
Subtle graphic tees may be acceptable, but this is determined on a case-by-case basis.
I haven't seen the watches you speak of, but watches, in general, are making a fashion comeback, even though everyone has a cell phone with the time right there on it.