This is so, Vir. I did have some second thoughts about the Watcher, but at the end of the day I still come back to "the worst it can do is kill me." Stealing my will and my soul, but leaving me alive and conscious, seems far worse to me. To each his own, I suppose. As to Shelob being worse than Ungoliant though, well, sure, you can feed Ungoliant, but how does that end? You make her increasingly powerful until you run out of stuff to feed her, which doesn't leave her in the best of moods.
On a completely unrelated topic, last I checked the OTHER poll we had an 11 vote lead. Go us! ;)