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It tells me the time and that is what I want a watch to do.

Actually, I want a watch to do a lot of things related to telling time, but not quite exactly the same.

I am frequently outdoors, and the first "other" feature I want is a rotating bezel, like a dive watch. When I start hiking into the wilderness, set this to zero. I want to know how long I have been hiking into the wilderness, so I have a good idea of how long it might take to get back out.

I like to have military hour markings on the watch face, so I can convert between 12-hr and 24-hr time easily.

I want a Sapphire crystal, so the face is durable.

I want analog hands and a second hand, so I can time things of a minute or two duration.

A Swiss Army watch with these features cost about $300 if I look hard on the internet. If the Apple watch can do all these things and then add a timer which will notify me by silently tapping my wrist, and a stopwatch function, I would be a happy camper.

In its first generation the Apple Watch is clearly a fashion accessory designed for in-town use. While they haven't stated anything about battery life yet, the implication of yesterday's presentation is that you're going to be charging this thing (along with your iPhone) nightly, so not something you'd take camping for a week. Two of the three models do use sapphire crystal. All other features (and lots more) are provided by apps, not the watch itself. The initial built-in apps look reasonably comprehensive, but as with the iPhone, it will be 3rd party apps that make this a must-have device a few years down the road.

As a general policy, it's best not to buy the first generation of any new technology. This is a very good debut, but it's still a first generation model.