You have the main points of it, Combat is pretty lack luster until you get Precision Slash, and leveling as Watchman is easy mode when it comes to bosses or tough trash. For PvP I'd also have to recommend Focus as your cooldowns make you a machine (reduced CD on GBTF), and since most under-50 players don't have any expertise whatsoever, it's free picking for a level 40. With the PvP damage buff and Inspiration, you can break 7k crits if you target the right (level 11 Sorcerers) targets.