Watches are a Status Symbol?
No, for most people, a watch is a way to easily tell the time. They are a status symbol of you are a douche bag who is compensating for a certain something being below average in size (do you drive an Audi TT as well by any chance?). But in that case you won't buy one of these until everyone's got one anyway.
No, this is a geek toy and will be for some time. So fix the battery issue then maybe it'll take off. It'd be kinda handy to be able to see text/IM/email and appointments without having to get the phone out.