I like the concept of the smartwatch, as I'm hooked on large phones which can be a nuisance to pull out of the pocket repeatedly only to find that I've received another spam mail or unimportant notification. I'm waiting for them to get thinner and better looking though. Maybe next year.
Ultimately, I'd love it if I could use a smartwatch to activate and control any app on my phone that doesn't necessarily rely on using the full screen. Like, with the phone in my pocket and headphones in, being able to start Spotify and choosing a track, then switching to Google Music to play a track I have stored on my phone, then making a call, etc. - all without having to pull the phone out.