While all of these concepts are nice to look at. One thing is being over looked, durability. Watches are exposed 100% of the time. They get beat and banged constantly. The wrap around design just isn't going to cut it. It has to be encased for it to have a chance to survive.
Dew Motion are making an extreme sports smartwatch that links to your iPhone just for that purpose. Looks like it is being made out of wetsuit material though. Not sure how comfortable that would be.
Extreme Sports Smartwatch
Plus, black and white displays just bug me : /