Nice article on the Rolex Daytona and how Jack Heuer beat rolex to the races: http://www.ablogtowatch.com/rolex-daytona-watch-zero-hero-story/
Only one difference between Rolex timing F1 races and Heuer timing F1 races- Heuer actually did the work....Rolex just pays for naming rights http://timeandtidewatches.com/timing-formula-1/