Tons of overreaction to the thickness....it isn't any thicker than that guy's finger.
While I would prefer a circular watch as well, it looked extremely understated on Tim's wrist and UI is far more important. I'm extremely interested in playing with one.
Also - the mechanism for switching out bands if phenomenal. Digital crown plus pressure sensitive touch interface seems really great.
The Moto 360 kills me with that black half circle at the bottom.....if it ever comes available though, I'll probably get both. Apple Watch looks thinner and smaller.