Ten-man Rangers shared the spoils with table-toppers Watford in a pulsating local derby in W12.
Substitute Stefan Moore's first goal since December 2005 proved decisive, as the R's came from behind to gain a morale-booting point against Aidy Boothroyd's high-flying outfit.
Earlier, Middlesbrough loanee Adam Johnson put the Hornets in front in the 49th minute, when he headed home Tommy Smith's back post cross.
Moore put Rangers on terms though with a spectacular close range strike, and after Mikele Leigertwood saw red for two bookable offences, Rangers had strong appeals for a spot-kick waved away, when Dexter Blackstock appeared to be sent tumbling to ground by Lloyd Doyley.
John Gregory made two changes to the starting XI after Tuesday's defeat against Plymouth Argyle.
Finnish international Sampsa Timoska replaced Zesh Rehman at right back, while Gareth Ainsworth made his first start of the season, at the expense of Moore.
It was combative midfielders' first appearance since breaking his leg against Luton Town in April.
Boothroyd opted for the fire-power of Marlon King and Darius Henderson in attack, which meant Club record signing Nathan Ellington had to make do with a place amongst the Hornets' substitutes.
Backed by 3,000-plus fanatical Hornets fans, Boothroyd's men should have been in front as early as the fourth minute.
King linked up efficiently with Smith and when his cross from the by-line fell into the path of the roaming Lee Williamson on the edge of the penalty box, the midfielder fluffed his lines, skewing the ball high and wide.
Undeterred, Rangers were on the front foot moments later. Blackstock was gifted far too much time and space from an Ainsworth throw-in and when he tricked his way past former Rangers defender Danny Shittu with comparative ease, he volleyed wide with the goal gaping.
In an end-to-end opening, Shittu - returning to Loftus Road for the first time since his move from QPR to Vicarage Road - saw his header tipped onto the bar by Lee Camp, while at the other end, the inspired Ainsworth thrashed a cross into the six-yard box, which Blackstock just failed to poach home.
Smith should have opened the scoring in the eighth minute, but he was wasteful from eight-yards, dragging his right foot shot a yard wide of Camp's right hand post.
Rangers were by no means second best though and as the clock ticked towards the 27th minute, Blackstock stole a march on Jay De Merit, only to glance his header inches wide of Mart Poom's left post.
Adam Bolder was impressing in the heart of the R's midfield and it was the Rangers skipper that provided the next chance on 33 minutes.
Having evaded Gavin Mahon's last-ditch tackle, Bolder centred for Blackstock, who was only denied by a superbly timed block by Lloyd Doyley.
The R's were dealt a huge blow five minutes before the break, as Danny Nardiello was forced from the fray with what appeared to be a hamstring injury and replaced by Hogan Ephraim.
Blackstock headed another enticing Timoska cross over the bar 60 seconds later, while at the other end, Camp thwarted King, when the Hornets front-man let fly from 20-yards.
Henderson was first to react to the rebound, only to be denied yet again by the retreating Camp, who like his team-mates, was unaware of the linesman's raised flag for offside.
On the stroke of half-time, Ephraim broke away at pace down the right before delivering an inch-perfect cross for Blackstock at the far post. Unfortunately, the Rangers front-man's first-time volley flew high and wide from 10 yards.
Gregory replaced the hardworking Ainsworth with Moore at the break, while the Hornets also made a change, with Adrian Mariappa entering the fray in place of De Merit.
The second half was just four minutes old when Watford opened the scoring.
Smith capitalised on a moment of hesitancy from Chris Barker and his pull-back was headed home at the far post by the unmarked Johnson.
The lead lasted just eight minutes though, as Rangers showed courageous character to respond.
Neat interplay between Rowlands and Ephraim saw the latter feed the ball out wide to Moore, whose first time cross was met by the towering Blackstock at the far post.
The frame of the goal came to Poom's rescue, but there was nothing the Estonian goalkeeper could do to prevent Moore from smashing home the rebound off the underside of the crossbar.
Buoyed by the equaliser, Rangers really began to take the game to the visitors, with former R's defender Shittu sticking out a foot to thwart Blackstock, as the Hoops striker was ready to pounce.
The same player should have forced the overworked Poom into yet more work 20 minutes from time, only to scuff his left footed effort wide, after Rowlands again played provider.
Sensing his side had lost their way, Hornets boss Boothroyd made a double change in the 73rd minute, introducing Ellington and Jobi McAnuff to the fray in place of Henderson and Smith.
It was Rangers who continued to ask all the questions though, with Bolder and Rowlands leading by example in the R's midfield.
But the hosts were dealt a huge blow in the 80th minute, when Leigertwood was shown a second yellow card and a resultant red, for a late challenge on Doyley.
Buoyed by their numerical advantage, Watford threw everything at Rangers in the dying moments.
Shittu, now playing in an advanced role, nodded the ball down for King, whose saw his shot on the turn saved by Camp and then hacked off the line by Moore.
Seconds later, another aerial assault from the Hornets saw the ball fall at the feet of Ellington, whose thunderous drive was again expertly saved by the R's number one, albeit at the second attempt.
Vocal late appeals for a QPR penalty fell on deaf ears, when Blackstock appeared to be dragged to ground by Doyley, before Moore's sublime solo run ended with his shot being deflected wide for a corner.
QPR: Camp, Barker, Cullip, Stewart, Bolder, Nardiello (Ephraim 40), Blackstock, Ainsworth (Moore 46), Rowlands, Timoska, Leigertwood.
Subs: Cole, Bignot, Moore, Curtis.
Scorers: Moore 58
Bookings: Bolder 14, Leigertwood 45 & 80, Cullip 53
Red Cards: Leigertwood 80
Watford: Poom, Stewart, Shittu, De Merit (Mariappa 46), Mahon, King, Henderson (Ellington 73), Doyley, Williamson, Smith (McAnuff 73), Johnson.
Subs: Lee, Priskin.
Scorers: Johnson 49
Bookings: Mahon 62, Doyley 88
Red Cards:
Referee: K D Hill
Attendance: 14, 240
