A lot of people seem to think that this is not useful for them. That is fine, but I'm not sure why you feel compelled to announce that in this forum. For myself I have a lot of cases where I see it being extremely useful. I'll give you some examples:
1. Running. I love runmeter to track some information while I am running (and cycling), but with the phone in my pocket, quickly checking my pace, or pushing the "lap" putton to set a split time, or the start/stop is very difficult. I currently use my timex for tracking split times and iPhone with runmeter for overall times. It is very inconvenient. Having display of some key information on my watch, and the ability to use the buttons on the side will be great. (Granted this will require compatible apps, but I have faith)
2. Silent alerts. I spend a lot of time in places where my phone must be silent. I frequently miss alerts because I don't feel the vibrate alert. Getting it on my wrist will be great. This is probably even more relevant for those who are not able to carry their phone in their pocket.
3. Wrist watch. I have always worn a wrist watch, and granted this is a little large, but an open SDK, epaper display will make an incredible watch, that can be fully customized.
I do think it is important that everyone who invests understands that this is a kickstarter project. They do not yet have a actual product (just a prototype). You pay your money and you take your chances. With the number of people that have participated in the kickstarter, this is a totally different scale of manufacturing than what they had planned when they started the kickstarter project. It seems quite likely that they will have a hard time meeting this supply in the time period they have planned. There is a risk involved.
The other thing to remember is that this is a v1.0 product. Inevetably there will be new generations and competing products. If you like the idea, but think that it is no good without some feature (BT 4.0 for example) wait.
Personally I am looking forward to it and hope my existing watch will keep working for the next 6 months.