I have enjoyed browsing pocket watches for years, but have bought only three. I have a new production, with a Swiss ETA movement, and two vintage pocket watches, one that is a very old (137-year-old) 11-jewel watch, and a 1918 15-jewel Elgin that I bought recently. I know that it is not "all about the jewels," as my 11-jewel watch is usually between +1 and +8, and has never been slow. Likewise, I have read that the matter of jewels is more relevant to overall wear, as the jewels are at points of friction.
Since I like smaller watches, I have noticed that many 12s watches feature movements with fewer jewels. Many of these watches are in great cosmetic condition, and most can be had for very little. I welcome any comments on these watches, especially those with only the "baseline" 7 jewels.