+1 for a Pebble here!
I've had my Pebble for 6 months now, so here is a warts and all review :
Bad stuff :
Quality Control is a little hit & miss. My first Pebble lasted 3 months, before failing to charge properly.
It's not the most beautfiful watch (Pebble Classic), and the Pebble Steel is a little too expensive.
App support for iPhones seems a little more mature than Android.
Battery charging connection uses magnets to hold the lead in place which means a gentle knock can stop the watch from charging.
Good stuff :
Battery life is 5 days when synced to my Android phone and using the Misfit fitness tracking app, RSS feed, email notificatoins (i.e. in typical usage). I'm sure I could get 7+ days from it, if I was to turn it into a dumb watch.
Loads of watch faces and apps available, and very easy to design your own watchfaces (Canvas) or build your own apps.
It's very waterproof - no worries showering or swimming with it.
What I use mine for :
Tell the time & date! The number 1 app for me :)
Receive Call/SMS notification (means that I can leave my personal phone on silent whilst in the office and not miss any calls from emplyment agents).
Receive emails to my wrist - I don't get the full text, but enough to decide whether I want to get my phone out and check.
Receive the BBC news RSS feed direct to my wrist.
Get Live(ish) football score/goal alerts to my wrist.
Full time fitness tracking.
I think battery life will be the major differentiator for the Pebble/Sony e-ink watches and the shiny phone on your wrist bling from Apple/Android wear. If Apple and Android don't fix the battery life issues, then I think that there will be lots of shiny expensive devices languishing in drawers in 6 months time. This wlil be a shame as a smartwatch is a really useful addition to the mobile in everyones pocket.