Personally, I'd like two things in AW that the Apple Watch has:
1) A speaker so I can take calls on it from another room (and hear search results spoken back if I wish).
2) Widget views in a row. I can't believe that Android is king of widgets, but Google didn't implement them on Wear. Whereas Apple more or less does with their Glances.
Weather, texts, settings, etc... should all be available all the time, not just during fleeting Google Now cards, or by finding and launching an app via icon.
Or just keep the apps going and let me swipe through them like WebOS did.