I agree with John Gruber’s takeaways based on what Apple has revealed so far about the Watch. I think we need to wait for Apple to reveal more about what the Watch can do. I would be surprised if all it can do is what has been shown so far.
To me, the biggest questions are price and battery life. It starts at $349 (Gruber expects this will be for the Sport range and I agree), but there’s no telling how high it could go. Gruber expects the Edition range to start at $4999. While I certainly hope it isn’t that high, I don’t think it’s outside the realm of possibility. Even if it did come in at that price, it would be significantly below the prices of traditional high-end watches. With regard to battery life, I hope it is higher than one day. I don’t know how much to expect, though.
I will probably wait for two years to buy a Watch (around the time my iPhone will be up for an upgrade). Don’t get me wrong, I want one on my wrist right now. I just want to make sure that when I plop down the X dollars for a Watch, my iPhone is technologically at the highest level of compatibility with it.