It is interesting that they selected Watson as Vice Captain. The VC role has traditionally been reserved as the grooming ground for the next captain. Mark Taylor, Steve Waugh, Ricky Ponting and Michael Clarke all spent a significant amount of time as the understudy.
I find it highly unlikely that Watson will ever have a major spell as captain. Both Clarke and Watson are almost identical in age, and both have a poor history with injuries suggesting neither will last far into their mid 30ís. I guess the hope is someone can establish themselves in the Test squad who is under the age of 28 and show some real leadership material.