I somehow came across this while trying to find some Warlords screenshots for the previous post. It has nothing to do with videogames, but I'm sure some would say it has the "giant waste of money" aspect of them in common.
It's a Rolex.
That can fit over your divesuit when you go scuba diving.
And is waterproof to 12,900 feet.
You know, because nothing is more annoying than diving the Mariana Trench only to have your watch shatter. Nevermind the fact that you'll be long since dead before you get down that deep, at least your watch will still be working.
Read about it at TG Daily. And for those extra curious, the article has a link to a 30-megabyte flash file on the Rolex site to show you exactly how awesome the watch really is.