I have looked at IWC (their sports watch line, since I am not a dress watch kinda guy), and although some of them look interesting, visually, I do not like watch dials with chronograph subdial arrangements in the 6,9,12 positions. I prefer the 3,6,9 layout. Also, I have a friend with a newer Aquatimer, and he's had a bit of a nightmare with quality control issues (first a visually flawed minute hand and then a stuck minute hand after being replaced) and long wait times in getting his watch back. After I saw that, I said no thanks.
Also, although IWC is highly regarded, I personally like my watches to be a bit more recognizable. Not as recognizable as a Rolex, but not as obscure as say, an FP Journe. An IWC is really only recognizable in my parts here by watch freaks. A Bvlgari, however, because it is also a luxury brand, is recognized by non-watch people. It also depends on where one lives I think. When I used to live and work in Hong Kong, in my circles there, pretty much everyone I knew wore a nice watch, and therefore, they all would be able to recognize an IWC or any other decent brand for that matter because image and status is so important there.
Back here in NJ, where everything is spread out and you don't run into the same people at the mall or everywhere else you go (because it is not so tightly concentrated in space and people), the last thing people really take notice of is your watch, so if you do want to have it noticed once in a while, don't buy something that is not really recognizable like an IWC that doesn't even have any storefronts to sell their wares. You can't walk into an IWC store here, but you can a Bvlgari shop...hence, more people will be aware of the brand and their watches.