Im sorry but i dont understand your concept at all, if im impaired I think id rather know what actual model i was looking at and not 'armani watch image' what is armani watch image telling the customer? No detail whatsoever apart from the fact that they are looking at an armani watch. In my opinion naming them all armani watch is spam because your reapeating the same phrase over again, at least im being specific as to what the product actually is? Id like to see an example of where you get your facts from regarding alt image tags to be honest.
This comes from http://www.mattcutts.com/blog/five-things-you-didnt-know-about-googles-search/, Matt Cutts' blog, in which he discusses yesterday's New York Times article about Google Search. So, at any given moment, your site can be affected by an algorythm tweak.
First you need to stop and think You write impaired and in the same sentence 'looking at' If I cannot see.... I cannot look............. If I never saw.... the color of gold would be lost on me as I do not know what it looks like. or explain to me what leather looks like..... My knowledge on the issue comes from years of experience, 1000s of Google front page rankings for clients, partners & myself month after month year after year. Reading online, seeing what the competitor's do, trial and error. Believe me its a very small issue as well, it wont hurt you that much nor help, but when you add it in with all the other issues it will hurt more than help. PS I use the tag just once on the page, after that its alt="image"
Worry not of search engines..... Do the jewelry shops where you live wait for someone to drive a bus to their door and drop off shoppers??? Advertise where it pays.... Organic SEO will at times drive traffic but more often than not it's research minded shoppers who are not in the buy mode. Paid search drives consumers interested in purchasing. I'd clean them up, simple is better, same thing with your link titles.. After a couple uses on the page the bots are not paying attention. I'd also look at your images and bolded text...I would reduce the bolding of the descriptions and try to place stronger calls to actions. Your small 'more info' images should be bigger.... Or use an ad to cart imager to drive the consumer to take the action you want!! I know thats not SEO, but it is SEM