I'm not a gay guy, but thought I'd add my two cents. I've been wearing my watch on my left wrist since 8th grade, feel naked without it. As a pp mentioned, I did use to wear it with the face on the inside on my wrist for a few years, but it really banged up the face of the watch. It does make it alot easier to read the time, though, without that weird-bent-elbow thing we do when we look at our watches (come on, you know what I'm talking about, where you look like you're trying to touch the person in front of you with your elbow and only your elbow).
Anyway, I no longer allow (yes, I did say "allow") DH to wear a wristwatch. He refuses to wear it tight enough and it slides up and down his arm from the back of his hand to halfway up his forearm and then when he looks at it he would flip his arm around like a retarded dog trying to shake itself dry until it got in an appropriate place to read the time. I took it away and hid it. But when he WAS wearing it, it was on the left.