If you didn’t get the geeky watch you wanted for Christmas you should consider building yourself a MakerBotWatch. The watch is an Arduino, using an ATmega328 microcontroller running the bootloader. The watch has two concentric circles of LEDs for minutes and hours. A vertical row of four LEDs adds in the additional resolution needed to get 60 minutes on the watch face.
The schematic and board layout are available from an SVN repository so you can make your own board. The device will go into production as a kit but currently the laser-cut bezel will not be part of it.