So, seriously, when does the guilt stop? When you are down to one pair of underwear you wash nightly so you can wear it the next day with your one shirt and one pair of pants? Do you rue the day you bought oatmeal with sugar and cinnamon already in it instead of the plain variety? Will you reduce posting on SLF because you no longer have Internet access unless you're sitting behind one of those communal-use PCs at the library? If you return the watch, will you give the $69 to someone in "the 85006" whom you deem to have less than you do -- and hope they don't spend it on a watch?
If, as others implied, you were spending money on a watch when you should have been spending it on food for your dog or cat or on gasoline to get to work, then you should feel guilty that you're not meeting obligations you've already made to others. If you didn't, however, is $69 spent on a useful well-built watch really more frivolous a purchase than anything else you can buy?