Vatch the Vatch
As Ludwig Von Drake would say. Watches are fickle things. For the most part (since quartz crystal and silicon chips) the timepiece part of the watch is in the less than $50 range. The added parts of the watch go into the "gee wiz" category (see diving watches), or jewelry (see Rolexes). People who BUY watches tend to keep them for a long time (Me, over 15 years), and use them for a simple task, answering the question "what time is it?". You don't need much after that for basic functionality, and you can't innovate much in that space either. The iWatch is a solution in search of a problem, and the solution doesn't really solve anything.
What might be really innovative would be a "self charging" version, where it takes the hand/arm movements and recharges the battery. This could (possibly) add enough to make the manual recharging process unnecessary.
That would be a BIG DEAL. I suspect that the energy available isn't enough to be significant, so it probably won't happen. In case it does, I mentioned it here first, and if nobody patents in a year, it is a free idea.
I still like nice analog (dials) watches, and desktop machines. I need the nice big letters that work nicely with my old age (*SIGH*).