Dave Caolo, commenting on the latest Apple rumor claiming they're working on an "iWatch":
Imagine that Apple isn't specifically designing a watch, but the next step in its portable devices. Something that does much of what iOS devices do today, only in a novel way, and in a smaller form factor. Small enough to be, say, attached to one's wrist. It's understandable to think of this thing as a watch because that's the logical point of reference. But Apple excels at skating to where the puck will be, not where it is, and most of us can't see that far ahead.
Good thoughts. I, for one, think it'll be more Dick Tracy than even a simple fitness-type device.
Of course I'll be excited to see what Apple comes up with, but I'm not that excited about wearable devices at this point. I went through two Jawbone UPs that crapped out on me, so that kind of soured me on the whole concept. (Though I am curious about the Nike FuelBand.) Further, I'm not sure I want another device to have to check and manage. I always have my iPhone in my pocket, so I'm thinking anything else is gratuitous. But, again, I'm certainly interested in seeing what Apple contributes to this space; who knows, it might be totally futuristic and blow me away.
See also: this tweet by John Carey on the matter. Makes sense.