Consider currently how there is a $100 difference between the 16GB and 64GB iPhone 6. People who can afford the extra would gladly do so since they think they are getting more for their money.
I'd say in that example they are definitely getting more for their money.
Speaking of the Edition, I bet on $4,499 for starting with the rubber strap.
I didn't know they had a rubber strap for that one. I figured Apple would have stricter demands on what kind of band you can wear with their highest end watch.
Also, there is no way Apple is going to charge extra between the 38mm and the 42mm like how Gruber believes.
I think this is the most intereting question: How will they handle pricing the two sizes? Ive is so into the 'fit' and 'feel' of this incredibly personal device, and obviously the size plays a key role in that. But Apple clearly charges more for larger sizes (iPhone 6 / 6+, any ipad or computer). I'm thinking it will be a small price difference, less than $50.