But rediscovering some old math doesn't make it that bad. I've rediscovered old math before, and it was something that mathematicians around me thought was interesting because they hadn't seen it before either. What makes this particularly egregious is that everyone involved theoretically took a course that not only described this exact technique, but which described an even better one! (Simpson's rule.)
I wouldn't recommend following Watson's advice on the correct attitude to your fellow man.
For further information, see http://en.wikipedia.org/wiki/James_D._Watson and scroll down to "Controversies".
Here is a piece of interesting trivia about that. Rosalind Franklin was a true expert on x-ray diffraction. However there are 230 possible space groups. (See http://en.wikipedia.org/wiki/Space_group for more on that.) The x-ray diffraction pattern you see depends on the space group, and so one of the first step is to go through all of the possibilities and identify which one you have, and only then can you really start figuring out what you have. Rosalind Franklin knew about all of them. But by luck Watson's PhD thesis had been on a protein with the exact same set of symmetries that DNA has. As a result he was in a much better position than she to interpret her data.
That hilarious part is that this paper was published in a peer-reviewed journal---and none of the reviewers realized that he'd rediscovered some 17th century math.