Thoughts on today's announcement: One of Apple's traditional strengths has been to take existing technologies and refine and integrate them into a very attractive package. See; iPod, iPhone, iPad.
I think this is what they're trying to do with their new watch. Problem is, as I see it, the smart-watch market isn't mature enough for Apple to have iterated something unique. I think they've come in as just another player alongside Android and Pebble instead of something new and disruptive (which seems to be a popular buzzword for technology companies these days).
That being said, I can see how this product would appeal to some users and I won't fault them for their interest.
First 'new' product line since Mr Jobs departed the mortal realm (speaks volumes)
It's a niche product at best..I predict a bigger flop than the plastic iPhone. Hardly anybody even uses a watch these days and who wants to do 'stuff' on a tiny low-resolution display when you already have a massive HD device in your pocket (or your hand!).
But anyone who plunks down $10K-$17K for the gold version is a complete f*****g idiot. 
My thoughts exactly, it should be like an intelligence test...if you buy one then you qualify for life long government assistance.
Next they'll be bringing out special glasses that allow you to view your TV in 3D
