I don't think these watches have a big future... I would say there is a high chance Apple won't release them at all..
"Apple Hires Yves St Laurent CEO for Special Projects"
"Apple hires Nike FuelBand advisor Jay Blahnik"
The first guy (Paul Deneve) is the former chief executive officer of luxury fashion. Apple is wise enough to know that people will not wear an ugly bulky device on their wrists even if it has 100's of features. A watch is fashion accessory first, a time telling device second. I'm sure Paul's luxury design experience paired up with Jony Ive's simple and elegant design sense will yield a great looking watch.
The second guy was obviously hired to provide some input and feedback about biometrics on the "iwatch". It could include a pedometer, heart rate monitor, features like the nike fuel band.
How long will it take to release this so called iWatch?
Design needs to be nailed down to the point where if you see it from far away you can recognize it as a Apple watch.
The Battery life has to last more than a measely day like the Samsung gear.
It needs to offer what other wrist worn devices like the fuel band and Jawbone UP (or whatever the heck it's called) have to offer.
Pull off all these aspects correctly and Apple may just blow another market wide open. (Of course 3 years down the road Apple will again be accused of not innovating)