I was searching for watch storage valets when I found this and decided that this might be a good idea for my upcoming trip.  I was very impressed with the quality of this item; the stitching and leather are impeccable and the off-white material on the inside is suede.  The sides are pretty firm so you don't need to worry about its contents getting squashed unless you put a lot of weight on top of it.  I could see it selling for $50 so at $29.99 it's a bargain.

I'd give the item 5 stars except that the elastic straps that hold your watches in place stetched out and didn't seem as tight as they were when I first got it, but it still holds everything in place well enough.  Also to note, some watches may not fit in the case, not just because of bezel diameter, but also depth.  I put a watch with a metal bracelet in it and the face touched the surface of the other side when closed.  My other watch had a buckle-type band and was a little too long to fit in the slot, but I was still able to close the case and zip it up.

There isn't much much else out there that compares with this.  It's a little larger than I expected so keep that in mind when thinking you are going to store this in your carry-on bag if you have a lot of other items (there is a smaller 2-watch version without the jewelry compartments that may make more sense for some people -- I might buy that one too).

Update: If you have a watch with a leather strap and a deployment/butterfly clasp, it may not fit in this.