I would be willing to bet money that you got an e-mail this summer / fall that had photos of Hurricane Katrina coming ashore. Am I right? Those pictures were actually storm pictures taken by a good friend of mine, IN NEBRASKA. But it didnt end there. These pics have since been used by chevy on a poster, by CBS in a made for tv movie, on the cover of a magazine in Australia, and MANY other magazines and web sites. In fact, take a look at this page and see who all used his pictures without his permission...
http://www.extremeinstability.com/storms.htm
Now... He had posted these pictures, (Not hi-res) on another photo site WITHOUT watermarks. Do you think CBS would have used that picture (Its on that page) if there was a big ole watermark on it? And if he had placed his website on it from the start, people could have looked at his site and seen he chases storms in the midwest and not hurricanes. So yes, while I agree with you it doesnt give the photo a boost in the looks dept, it IS necessary to keep theft of my pictures down. And I know the watermark can be erased in photoshop if someone tried hard enough, but it will deter most of the people that would want to claim the pictures as their own.
Sorry for the rant, but this has happened to me in the past, but not to the extent as my friend Mike. (Someone on here even used one of his pics as his own. That person has since been kicked off after I brought it to peoples attn.)
I do not post ANY picture on the web, that I think even has a hint of being marketed, without a watermark.
Hope you understand,
Doug Raflik