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Even if it did something REALLY basic over bluetooth like show me who's calling, text messages that'd be enough for me.
There is a Sony smartwatch that will do all that for you.
http://www.sonymobile.com/us/products/accessories/smartwatch/
There seem to some interesting smartwatches out there right now--If you are into that sort of thing. I doubt that Apple is gong to revolutionized watches they same way they did for phones. My guess is that they will be about as innovative as the iPhone 5.
I don't doubt though that they will sell millions, and Apple fans will drone on about how unique they are and every other smartwatch stole the idea.
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...on a downward spiral.
Apple just announced 128gig iphone. That is their idea of innovation. Yet there's not one appliance, car, or any non apple device that has the Apple iOS on it. More over Apple seems to go out of their way to thwart manufacturers from creating devices that communicate with the iOS, let alone docking devices. Hello lightening.
The remote for your life
http://techcentral.my/news/story.aspx?file=/2013/1/14/it_news/20130114130231&seIT_News