Aww shucks, Eric, I think they're still kickin'
Just to prove I can compromise, I changed my avatar and have no watermarks on this ... LOL ...
In your defense, Jack, this is the primary purpose of copyright laws - to be able to batten down the hatches and prevent any unauthorized copying in any way. You are just exercising the full extent of your rights under the law.
On the other hand, is it possible you are simply adopting this mentality due to the availability of copyright laws (i.e. the government's given you a hammer, so everything's...)? There are alternatives
On the other hand, since you're likely to stick with the watermark, then you should avoid the semi-transparent version. It is well documented that the original image is easy to reverse engineer, because all the information is still there.
On the other hand, a community is compose of many individuals. Others have a right to their opinions too, and may exercise the full extent of their rights by voting with their feet.
On the other hand, I noticed Jeff posting recently. If I say something annoying enough, he can come on and rudely defend the rights of all professional photographers everywhere.