depending on how your doing in the relationship, you may want to try different things. if you are still early in the relationship then just take him out for a good night and maybe get him a small gift. if you are in a decent relationship go over to his place or someplace and fool around with him, tease him and things like that.

give him a bj or a whole night of brain-blasting sex. :)

or if you dont feel that erotic, u can go on a shopping spree with him. Take him to his favourite shops, maybe get him a music cd from whatever artist he likes.

Personally, Im not really into Valentine's Day gifts. My boyfriend and I made an agreement last year that we wouldn't worry about getting each other gifts. I am not the kind of girl who wants to be given a stuffed animal, and I dunno what I would have gotten him if we had done that. Instead, we spent a really nice day together, enjoying each other's company. I dunno if that's something you'd want to try, but in my experience doing something special with someone is way more fun for both parties than feeling obligated to get a gift just because it's a certain day. Why don't you take him somewhere special that he's never been, or take him to the place you first met, or plan a romantic day? If you live by the ocean, take him to the beach... if you live in a city, take him to a cool old building or a romantic square... if you live by the woods take him there and sit by a creek. You get the idea. That way, you can give him something he'll remember fondly and think about how much you like each other, instead of worrying about whether he actually likes the watch you gave him or something. Good luck with whatever you decide!