This REALLY bugs me. I want my phone to lock with the device lock after a specified time incase I lose the phone or it is stolen - ie don't want someone getting into all my data!
But, at the same time, I use my phone as a watch (to tell the time).
Here's the problem: you have to unlock the phone (device lock) to check the time!!!). That sucks!
Solution: make the clock appear on top of the screensaver - or have a null screensaver that sets the device lock but doesn't overwrite the display.