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Yes, it should work great on both!!!
It depends on the thickness of the materiel. This item is not an industrial item. This is for household, DIY purposeses, like making a hole in belts etc.,
Watch Strap? I don't think so unless you can a smaller head making a smaller hole. This is designed for belts and larger straps.
I'm not sure as I've not tried them on metal. I'm pretty sure that if the metal was of a thinner gauge that would probably work just fine. .