Maybe I just haven't seen it, but in the back and forth about battery life, no one has mentioned that Tim Cook, the one who stated the watch would have all day batter life, probably has a way more connected life than any one here....
Some people have a rather naive idea of the life of a CEO.
Cook has a whole army of people to take care of things, so he probably NEEDS to stay connected a lot less than the average traveling Joe.
A day of "mixed" use is sales speak for "it will not last through the day, unless you use it as a pricey Casio equivalent" meaning look at the time (but only from time to time) and go "wow! I've got mail!" which you then have to pull your phone out to read.
I still haven't heard why is this more compelling that the Android Wear competition, which has generally sold poorly. It's better designed than most, overall, but it also has what seems like an unusable battery life, can't track sleep and it's more expensive.
If it lasts only 5 hours, it's really the TENGU of 2015. It will end up in a drawer within a month after purchase.
Maybe I am missing something big here, but this thing sounds like a major fail, unless Apple pulls a killer feature we don't know about.