I've been shooting watches in natural light since moving to the UK and leaving my studio equipment behind. Thought I'd have a play with some cheap lights this evening.
I used 2 cheapo 40 watt table lamps and taped one sheet of printer paper around them to diffuse some light. I shot everything handheld so I couldn't get any dof, and in this shot I was holding a light in one hand and the camera in the other.
I also set a custom white balance to try to offset the tungsten lighting. On my colour calibrated Mac, this looks not too bad to me. I see some tungsten artifact on the right hand side of the case that's probably from the undiffused overhead room light. Not sure how it'll look on a PC. My pics usually look bad to me when I view them on a PC. :)
The dark background took away a stop from the lighter background I shot some others with, but I kinda liked it. I was using my old 300D with its cheap kit lens and shot it in jpg, with just a few PS adjustments.
On a tripod, this setup might just work. Whatcha think?