I would never recomend using one of the superglue type products - the epoxies are definately the way to go - except for the 5 minute types which have a tendancy to soften at body temperatures.
The epoxies have an advantage over many other glue types in that they stay flexible - making them less prone to breakage at the glue joint from shocks and mishandling.
Yes, shellac used to be used as a glue in both the jewellery and watch industry (Still is used at the high end in both) - but epoxies have really made their mark as the results are consistent and more easily controlled. (And no beetles are harmed in the making of - as sometimes happens with shellac
)