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I think it'll be at least until October or maybe next spring until we see new watch hardware besides bands. The reason is the watch is still being rolled-out to other countries (Greece, Israel, Bahrain, Kuwait, Oman, and Qatar this week). It would make sense for Apple to finish with this year-long worldwide launch process before starting with the launch of a new watch. Apple typically speeds up global availability when it can increase production to meet demand.
 
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I am still 100% willing to bet there will not be an hardware update until Fall at the earliest. WatchOS 3.0 will be announced at WWDC in June and new hardware will follow in September/October, if not even next Spring. This coming March will be bands only, if that.
 
If you are a geek/techie, you will always obsess over the nest new version since it's better in spec, etc. And if you frequent Macrumors, I assume you are smart enough to wait.

Apple's first version of a new product have always seemed to be a test version, testing the waters on consumers' reactions and price points:
- iPad 1 -> much better and longer lasting iPad 2
- iPhone 2G -> iPhone 3G + carrier subsidy
- 1st gen Macbook Air -> Much better designed 2nd gen Macbook Air
- 1st gen Retina Macbook Pro (anemic GPU)

I consider Apple watch to be like iPad 1. It is definitely exciting to have when it was released. I hope the second gen will be much improved and more geared towards the current status quo (eg. apps on the watch, thus better SoC and battery life).
 
according to Gene Munster, the Apple Watch could follow the same development cycle over two years as the iPhone. the new Apple Watch does not always propose embedded modem and is always dependent on a companion iPhone (or WiFi network). so keep your watch.
I can't say I'd always align myself with Gene, but I've been saying this since the original reveal.
 
Target lied they don't do rain checks for a price drop only for sales ( I still don't understand the difference) when ahead and went to Best Buy today and grab one for my wife and one for me I missed it I also put it on my Discover which has a 90 day return policy so if there is something revolutionary on March 15 I'm covered
 
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B&H has a $100 off sale. Sounds like an S version is in the works to me. You don't have to be a weatherman to see which way the wind blows!
 
This week I took delivery of my new MacBook Pro. Next month I think it is highly likely a replacement model will be announced. So why did I buy?

Because I want/need a laptop now. And because how much better could the next generation MBP be? And even if they do announce it in early March, when will it actually be available for sale?

Same applies to any new Apple Watch. And don't forget, there was a six week (eight week?) delay between announcement and pre-order. Followed by weeks of delay between order and delivery.

If you like what's on sale now, buy it. Then stop logging in to MacRumors so you don't see what you're missing or get tempted!
 
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