The best traditional watch is a classic design gold case. From Timex (carefully chosen) to Patek Phillipe. I like the white/light dial with a burgundy leather strap. Or metal bracelet. If it's a black dial, the leather strap would need to be black. As long as it's not too "dressy" this watch is even good for casual wear. The only option I don't like is the black dial with silver case. To me, that style looks better as a field/dive watch because it looks more military. But that's just my own opinion. (I think Paul Reiser wore a watch like this in Mad About You, but I never liked that style.) ...And I'm only half sold on white metal with the white dial.
Dive watches and field watches have become more popular in the last 10 to 15 years, so these are more and more acceptable today.
In the 80's many suit-wearers wore basic Casio digitals, like the F91 or similar. Now there are a lot more options in case design and colors. But if it's with a suit it should be black. Otherwise it might look like a kid's watch.
I think even some G-Shocks are acceptable with business wear. But it shouldn't be too "stealth" looking. It would be better to have metal around the bezel.