I checked the FAQ but there was no mention of this, so I'll ask here:

If I use the Pocket Watch to repeat the Investigation Phase, perhaps because I'm engaged with an enemy and I don't want to get hit, do I actually have three actions to use? I just happened to be looking at the reference card from the core set, and noticed that "Reset Actions" actually occurs in the Upkeep phase. Cross-referencing with the Rules Reference, page 23 definitely lists Reset Actions under section 4.2, which indicates to me that while I can certainly pop the Watch to repeat the Investigation phase, doing so will not give me the three actions I normally have, meaning it's a huge waste.

Long story short, I don't think repeating the Investigation Phase works like you might expect. Any thoughts?

I remember this same question form when the GPW was shown as a preview card. If I recall the fallout correctly.... you're absolutely right... but the powers that be have basically said we should hand wave it, so the GPW can work like they meant it to. I'm surprised it didn't get into the FAQ.

I dug this out of an old thread

Greetings, The “reset actions” step of the upkeep phase and the mini-cards are mostly there as a convenience in order to give players a way of tracking who has taken a turn and who has not. Generally, investigators have 3 actions to take whenever they take a turn, and each investigator takes one turn during the investigation phase. If a card effect grants you a new turn, either explicitly or in this case by allowing you to repeat the investigation phase, the investigators should be granted a full turn’s worth of actions once again. Likewise, if the upkeep phase is skipped, this doesn’t prevent the players from being able to take their turn during the next round. Cheers, ------------------------------------------------ Matthew Newman

Ah, that's very interesting. Thank you so much for digging that up.

It is a little odd that it wasn't in the January FAQ, since it's a known issue. Maybe they consider it solved, and so should we?

Thanks again for the info!