The only things I require from an aviation watch are accurate time and a
stopwatch, both of which must be very easy to read and simple to operate.
Everything else is clutter that makes the watch difficult to use. The
closest I have come to my ideal is the Swiss Army Cavalry watch, though this
watch is unsuitable for night use.

Sweep second hands are better than digital. In fact, digital watches are
inferior in most respects. You can use a dial watch to determine direction
and estimate distances.

However, the Cavalry watch is hard to find.

The new Swiss Army Star Tech 3000 appears to have most of the functions you
want.

Given that my cell phone and GPS have pretty good clocks on them and the
fact that you can download all kinds of free timers for the iPAQ, I am
beginning to wonder why I wear a watch at all.