In my experience, neighborhood watch programs are really nothing more than narcs, off-duty police, superiority-complex-ridden people that try to be police, and then the occasional person who just wants to make sure no one is being harmed. It's this last group of people that give me hope for watches, and I think community watches can fit nicely with anarchism; it's volunteer, there are different watchers every night (or week or whatever), and no one has authority over others. The Highway Helpers in Iowa and other states are slightly reminiscent of this organization (volunteers drive around the highways in trucks with car-repair equipment and help anyone in need, free of charge). I can easily see some anarchist societies having such organizations (people patrolling to make sure no one is harming another or being harmed), and I have heard Christiania has similar coordination among residents, although I can't confirm this.
But with incidents like that of the recent Trayvon Martin shooting and many others like it, there's legitimate concern regarding these watches.
On top of the original question, what do all of you think?