Great thread, I'll take a bite.....
Have seen and played with the 360 at a local Best Buy. And hey, it's a nice piece of tech. I don't like the flat tire and I don't like the way the watch sits "on" the band, definitely makes it feel clunkier as opposed to a middle body connection.
I wear a traditional watch everyday, and I have for all of my adult life. My initial hopes and speculation were that Apple would release a round watch. After seeing the form on a a couple of Android watches, I think the rectangular screen is far more practical and effective for displaying information.
I am an Apple lover. And I appreciate the fact that Apple is smart enough to use the software and hardware together to make a smart, good looking device. It would be great if the bezels were narrower and the screen was larger, and I would imagine someday that will be case. But to work your design language around the idea of making those bezels disappear by using a black background is smart. Even the text bubble still looks as though it is floating on a seamless display. Couple that idea with the nice curves of the glass from the iPhone 6 line and I bet it's a very pleasing experience. Both visually and from a usability standpoint.
I liked the idea of the watch being used as a dive computer, but I think in its current form, it would still need to be tethered to a phone to really be effective. Especially given battery life. But I do like the idea of being able to remove the bands, and maybe with a specialty case, use the device for water related activities. Could be kind of a go-pro situation where you have a ton of different "carriers" for the actual watch. A pocket watch attachment, a rugged case type of device - I am an avid backpacker. With a solar charger and a little bit of extra protection, this could easily replace my Suunto.
It's an exciting time for everyone. We're at the dawn of a new age of personal computing. Having options (Apple vs Everyone) will only drive the innovation faster and help make the tech more widespread for a variety of demographics.
I can't wait.