There are 5 majors at KP right now.
Deck:
Straight Deck
Logistics and Intermodal Transportation
Engine:
Straight Engine
Marine Systems Engineering
Marine Engineering and Shipyard Management
Note: there are some "shoppers" left (Deck with QMED), but that is no longer offered to incoming classes.
As far as wristwatch regulations, nothing is really enforced at USMMA. I see the usual black and brown bands, along with gold, silver, white, green, pink, etc.
If you are separated from the Academy after the beginning of 2nd class year, you may be required to reimburse the government, but there is somebody who makes the final call on that, not sure if thats MARAD or what.
It is my impression that all the Principal candidates are notified in March/April, and then they dig into the waiting list in May/ June until the class is filled.