Ahh...so little time to post and so far behind on interesting threads! Nonetheless:
My simple (boring) answer is that the Milgauss is a wonderful time only watch. But so are the various ranges of Calatravas and the various time only watches shown on this thread.
The more complex answer is that it is difficult to say what is the right design of the time only watch in the particularly excellent framework of Antoine de Saing-Exupery where there is nothing left to take away. In fact there is much that can be taken away or changed from the various time-only watches on display and that is perhaps the issue. I feel like many of the watches we are looking at (in this thread but in the industry as a whole) are variations on a theme by "Walkman" but what we are striving for is "iPod"-like simplicity and I'm not sure the watch industry has achieved this. Or perhaps more accurately, the simple time-only movement is largely unchanged. I don't know what is the answer, but I wish there was a watch out there that made me feel more "iPod" than "simple-Walkman". Alas.
So, as a start I would, in addition to the simple time-only face and dial, seek to achieve a skeleton movement where the bridges were made of a type of material where the bridge itself was except for the jeweled sections extremely thin (and therefore NOT decorated - this is simplicity we are seeking after all). What would remain when gazing through the sapphire case-back would be only the absolute key moving gears and pinions with any extra metal removed. Picture string-thin bridges of sufficiently-hard material.
Regarding the dial - have you ever been in a hotel where the window to the bathroom (say) is clear but if you flick a switch, the window becomes opaque? I believe this is called "Smart Glass". Well my friends, this is how the dial would look - completely transparent front to back but with a simple twist of the crown - poof; an opaque dial with numerals appears.
But is it beautiful? I'm not sure - the closest I've seen to this type of utterly simple watch is the Corum Bridge series (sadly no Smart Glass) which I admit to admiring given its utter simplicity.
Of course, the utterly simple watch would require minimal if any lubrication - the holiest of the holy!
May the simplicity and innovation of the "iPod" eventually reach our watches and their movement; in the meantime- all the best.