It needs to be waterproof. It needs to have the battery life of a watch. At least a year. If I have to take it off repeatedly to charge it, I'm going to put my casio or seiko automatic back on, and forget about the Iwatch. It should a cool design. Maybe have a ring around the face that rotates to choose options or control apple tv's or other devices remotely. It must be a sturdy, utilitarian, well designed.
If it has to be battery hungry, like a smartphone on my wrist where every few days I gotta charge it. Then I don't want it, I'll just pull my smartphone out and use that. At the moment I don't see a reason for any of the other smart watches. Maybe apple can come in and really show people how to do a watch. But to do that it has to have parity with current watch features. NONE of the other people making smart watches have devices that are waterproof or have good battery life. They have these tiny backlit displays like an iPhone. Why. The only thing that comes close is the casio bluetooth watch. It gets battery life and water resistance right. And then does controls for iPhone music and stuff. I am thinking about getting one.