I really love the look and design of the website. I think focusing on one product is the way to go.
One minor thing, I feel like the image on the left on the homepage needs to draw more focus to the wrist. I immediately wasn't sure what I was looking at and looking for. The sunglasses and pants seem to be the focus of the picture. If you can center the wrist with the strap for that photo, it might work better. Just my humble opinion.
Hope that helps.
I love the watch straps and the photography is nice too. I just wonder if you could do with a few more shots of the straps on peoples wrists. It's a bit like when you view items on ebay and they are so close up you wish you could see more of it at it's actual size. Plus I'm sure some of the colours might look a bit different too again the persons skin. I'm all for the clean simple look but wonder if some of your images would benfit from being just a bit smaller. Where you have the images stacked on top of each other with the text in the middle. May I also suggest to arrange your text to the left and not centred in between the images only a thought.
I also think 1 product is a great idea, you can always expand in time.
I agree on the point you made on more wrist shots so people can see how their strap may look on a wrist mounted on a watch. I'm trying to implement a free solution that will show sume thumbnail images (like an image strip) below the main product imag,e but haven't figured this out yet.
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