If they did find fault with one of the suppliers parts and then removed them from earlier build watches and removed the supplies from the production line. Then they should be applauded... Most companies just care about the bottom lined and would of shipped all of the units and just fixed the problem later, but Apple has pull the part from the supply chain and taken a big it on the stock and in the press for the slow shipments...
I would rater wait for a quality product!
They did the right thing, but realistically it's not as though they had a choice. It would have been many times worse for Apple if they shipped a bunch of these with defective parts and then had to institute some kind of recall.