As far as Sporty and Formal, I agree that both of my watches are sporty, but the point I was making was that both are "luxury". I Never wear a suit and tie, so my Panerai is my "formal" wearer, for going out to dinner or events, and my Sub is for everyday use. My Seiko Orange Monster is for yardwork and stuff where I might damage it.
"Formal" to me, and someday I'll own one, is the Patek Calatrava, which IMO is THE quintessential formal dress watch although there are many others.
http://www.chrono24.com/en/patekphil...acturerIds=194