I rather have an Apple Watch with "OK" battery life than have no Apple Watch at all. So I accept what I get with this 1st gen.
That said, look how fast the huge iPhone battery charges. If you can plug the Watch's tiny battery in for 15 minutes some time during the day, you will get plenty of life out of it.
I can plug it in when I shower at night, wear it to bed, then plug it in for 15 minutes in the morning, and I'm good.
It seems an odd thing to do with a "watch" but it's no big deal.
Of course, if you won't wear it to bed, you can get a full charge then, then a 15 minute top off mid day.
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Wait a second! You saying that the sensors for the heart rate that were in the initial announcement are scrapped? I wish for once some people would use just a little bit their head when they read poorly written rubbish on the internet.
Allegedly they had planned many more health related sensors which were removed before the Apple watch was announced because they couldn't quite perfect it to their liking. So you will get all the features announced (and also unannounced) on the Apple watch. Not sure what have surprised you.
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No HRM are still there, the other things they wanted are gone because they were unreliable - things like blood sugar...