Some people are referring to the AW being able to operate on its own on cellular connection. I think that might take a while. But I can certainly see the AW being able to do more without an iPhone nearby, but on Wifi. For example, the weather app should operate without an iPhone nearby (but with Wifi connection). Same for the stock app and probably quite a bit of others like Evernote etc.
Hopefully watchOS 2 brings this feature.