You hit the nail on the head, Ledswinger, when you say your Seiko looks smart.
Some people wear watches to tell the time, some wear them as jewellery, most people a bit of both. Unless smartwatches improve enormously and get some true functionality of their own, they'll only ever appeal to anorak-wearing geeks and nerds.
Remember "digital watches" of the 1970s? Even the geeks and nerds were soon too embarrassed to wear those.
I can see them possibly (perhaps) catching on as sports accessories, but no more.
But we'll wait and see IF the Apple rumours are true. Apple have form when it comes to redefining markets.