I was just reading the VB article - http://venturebeat.com/2012/04/12/pebble-smartwatch/
Using Bluetooth, a prototype smartwatch called Pebble will connect to your iPhone or Android to fetch calendar alerts, show social media updates, display caller ID for incoming calls, and run simple applications.
The watch, currently being showcased on crowdfunding platform Kickstarter, is not for sale (yet), but it’s already in hot demand. In just 30 hours, more than 8,500 backers have committed $1.17 million in funds to see the Pebble become a very real thing of connected beauty on their wrists.
i totally think using your phones "CPU" as a central resource and then have it interface into other items makes total sense, eg why not have a dumb display in car that uses your phones processor to do the heavy lifting (motorola atrix like), similarly this watch should just be interfacing off the phone for what it needs to display, using a "Pebble" app running on the handset sucking in the emails/facebook/tweets you let it interface into its api.
Now here comes the cooler part.....why is your phone even running CPU intensive processing-every handset SHOULD be paired with a CPU in the cloud somewhere and your phone should actually just be a dumb display that is mirroring what is displayed elsewhere on a (virtualised) server that is running in the cloud where power is no longer a concern.
Sounds cool right... was already planned and launched in 2006 by a company called Savaje, i was working on a subcontracting project designing apps to how this would work on later generations
The fact that the Savaje handset/OS never took off is one of the biggest regrets in my commercial history and i think but for a few key people making different decisions in a few key meetings the whole advancement of mobile OS could have been a lot lot further along and on a very different path.