Good news the Watch learns your stride length and calibrates itself while running with your iPhone. As most runners know (not sprinters) cadence is fairly consistent (about 180spm) while stride length determines your speed. By learning your stride/speed the Watch can better estimate your distance by calculating cadence.
This info is revealed in Christy Burns blog post.
http://www.apple.com/watch/christy-turlington-burns/
It says:
Also it shows how easy it is to change bands.
This info is revealed in Christy Burns blog post.
http://www.apple.com/watch/christy-turlington-burns/
It says:
Christy Burns said:...After you run with Apple Watch and your iPhone a few times, the Workout app knows more about your stride. So you can run on a treadmill or outside without your phone and still get a really accurate workout summary....
Also it shows how easy it is to change bands.