I just finished up an hour long jog. Although I did it as a million laps around the gym, it felt great. Other than knowing I went for an hour, I have no other data. I didn't count laps so I have no idea how long I ran distance wise and consequently, I cannot figure out my pace. I simply ran a comfortable pace.
At the end of the hour, I did speed up and run the last 5 minutes at a quicker pace. I did this simply for fun. It feels good to run fast and I love finishing quickly. It makes me feel good about my fitness and there are research based articles that show finishing fast, negative splitting, etc. all have cardiovascular benefits.
I suggest every person that runs should drop the watch once in awhile and run for comfort. I personally used to hate doing it, but now I feel like it removes the stress I sometimes get about holding paces and what not. I can get past that stuff and just have fun running for that day. Plus its harder to have a bad day if you aren't paying attention to time!