Design first. Think Omega or Breitling. It is fashion. I own a few watches, including a Speedmaster, a vintage Восток, and a several others. There were times where I pulled out my phone to check time while I wore a watch, and there were times I checked my watch for time when I’m holding my phone in front of me. Again, ultimately, it’s fashion.
What bugs me about the Moto 360 design are the bezel, or lack there of. Watches have bezels, plus they could have hidden the crime of being not completely circular. Apple (if they were to make a watch instead of a wristband thingy) should have bezels, and let them function like iPod’s click wheel. It’ll be faster than flicking around a tiny screen.
Going with the speed on previous point, all the actions on wrist need to be able to be done fast. If I need more than 30 secs diddling with my wrist to finish an action == fail.
Great stand alone watch, regardless of companion devices.