I don't really understand the concept of an 'iWatch' or similar device. Is it really that bothering to pull your phone out of your pocket? How much extra time will it save?
For those who say that it'll come in handy for skiing, jogging, hiking, rowing a boat etc, I don't think the majority of iOS users participate in such activities frequently enough to warrant buying an iWatch-type device. Seriously, how many times have you been skiing this year, or even your lifetime? For running/jogging, I think the iPhone 5S' M7 co-processor is sufficient enough to handle such things. Would be interested to hear what other useful purpose an iWatch would serve.