See his piece here: http://daringfireball.net/2015/03/apple_watch_prelude Gist of the piece is stainless steel will be very expensive; different prices for the different sizes; no upgrades of the internals; no trade-in program and no 3rd party band program. He says the stainless steel watch has to cost a lot more than the aluminum one otherwise there is no reason for both to exist, and the different materials and manufacturing processes necessitate much higher pricing. If he's right about the stainless steel prices then yeah that will cause the biggest *****torm because people have already resigned themselves to the fact the gold is not for them, but are still thinking the stainless steel is within reach. Gruber blames Apple's marketing pitch last September which came across as 'choose your band based on style' not price. It seems to me most of Gruber's thinking is coming from the idea that Apple is positioning this equivalent to a luxury watch and so everything flows from there - pricing, no trade in, etc. I don't know if this is coming from inside information (even if it's 2nd or 3rd hand) or just wild guesses on Gruber's part but he's not backed down at all. I still struggle with upsell possibilities if the stainless steel starts at $300-$400 more than the aluminum version. Are people going to consider polished stainless steel, sapphire and ceramic back enough of a reason to cough up an an additional $400? And if they want one of the nicer bands, tack on another $1000? Gruber's prices effectively put the stainless steel out of reach for a lot of people. Maybe Apple's expectations aren't to sell a lot of the steel watches but they sure went through an awful lot of work creating all these bands for that collection if their intention isn't to sell that many. What I found odd about Gruber's piece is he expects Apple to show off the Photos app and new MacBook Air (if it's ready) at this event. If the rest of his piece is right then showing anything else off at the event seems very out of place.