Well, at the risk of sounding like an heretic, I think that watches/GPSs/any time-distance measuring devices are probably counterproductive in producing your best race times except for distances over 30k where pacing through the first half becomes absolutely crucial and quite tricky to juge without some sort of time piece.
But, let's asume we're talking about half marathon or less, then I think it's safe to say that provided you have done a few races over the same distance that you're planning to run a PB over, during your build-up, you'll have a very finely tuned idea of the maximum pace that you can sustain over your goal race distance. In which case, leave the watch at home because the only thing it'll tell you is:
1. You're running too fast
2. You're running too slow
3. The mile markers are in the wrong place!
None of the above are useful, therefore a watch/GPS isn't useful in a race.
Furthermore, not wearing a watch ensures that you never cross the finish line and then complain that you're official time doesn't match your watch time 