All I can say for sure is during install of the 2008 version, the process said AdWatch was being installed and placed a shortcut on the desktop. Launching AdWatch with the desktop icon after reboot provided a window showing what AdWatch would do with a "Start AdWatch" button at the bottom. As I said in my original post, I have elected to not start AdWatch in the hope someone could provide some input regarding the potential of conflict with SpyareBlaster.
1 minute later

...... What a fakeout... I thought it would be a good idea to take another look at AdWatch before I posted the above narrative only to get a window that said AdWatch is only available in the Plus and Pro versions of the program.
So all of this just goes away. I left the original response in this post just for a chuckle...
I'll mark this post "Solved"
Raybro