I haven't tried the SS model on yet, but man does it look nice. I made the mistake of judging it based on the renders from Apple's website. Very foolish- it's very nice looking in person. On one hand, I'm glad I didn't spend ~$600 on a first gen watch, but I'd be lying if I said I wasn't a bit jealous of those who did.
Once you try on the stainless model, it feels really premium and I think most seem to like the additional weight once you adjust. But overall, yes it's pricey. But with the Sapphire and stainless, it offers a really nice appeal and is aesthetically pleasing.