Hi Vysis,
The published number of functional jewels in all modern Swiss watches is strictly controlled by the Swiss watch industry standards organization NIHS: Normes de l'Industrie Horlogère Suisse.
All 42 jewels in the IWC Portuguese Automatic, calibres 50110 etc., are necessary and certainly not 'superlative'. Only the balance and escape wheels have 2 jewels per pivot, both being functional, one acting as a vertical bearing and one as a horizontal bearing. This greatly reduces friction and increases accuracy.
Although you mention the'the lack of any complications' in the movement, it is actually very complicated compared to a simple 21 jewel automatic.
It is an 8-day(reduced to 7 for accuracy)movement, requiring extra train wheels compared with a normal 2 day auto. Additionally, it has a power-reserve indicator mechanisim,Pellaton winding,calendar and small seconds indicator which all require jeweled bearings.
As you can see in the diagram below, the Pellaton alone requires 10 jewels.
Leo
