I've been rocking a Microsoft Band since the first day they came out, I freaking love it. It is more of a fitness tracker than a smartwatch, but it does both jobs fantastically. The best part is that it is compatible with all three major smartphone ecosystems, unlike the iWatch which requires iOS, and the Android wear which requires Android.
Cortana integration on it is great, I use mine to have her lookup things, respond to texts, and so on.
$199 makes it a bit cheaper than most other options, especially Apple. I recommend buying it from a Microsoft store if possible and getting the $20 protection plan.
I have a Timex analog watch that I bought for $24.00 It keeps good time. I tend to destroy watches (unintentionally), so a $400.00 watch would be wasted on me.
I saw Froggy's watch in West Virginia. It's pretty neat, but it would be a mistake for someone like me to own one.
I'll wait til they are stand-alone smart. So far, all I have seen is that they are like remote controls for your phone.
Reminds me of a friend that had an expensive stereo put in his car (Geo tracker LOL!!) and it came with a remote control. So you can control the car's stereo when you're not there!
See also: Ren and Stimpy's remote control shaver. "Now you can get a clean close shave, without even being there!"
I'll wait til they are stand-alone smart. So far, all I have seen is that they are like remote controls for your phone.
My Microsoft Band does not require a smartphone, there is a desktop app that lets you do all the syncing for all the health/fitness and other configuring. That said without a smartphone it has reduced functionality, but it still works great for health monitoring and keeping time.
My old Microsoft Spot watch had a decade ago had its own service (received data over FM radiowaves), it didn't interact with phones at all.
I've seen some smartwatches that take a SIM card and use cellular data like a phone, I believe those don't need a phone to pair with but I'm not sure.
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So you can control the car's stereo when you're not there!
Remote is useless if you are not in the car, but it is great for if you use the stereo for music or radio at tailgate parties and such when you are not in the vehicle
I'm glad there's folks out there that enjoy all the new tech. I just don't see the need for myself. Hell, I always wore a watch. I still have a watch tan even though I don't wear one anymore. When I got one of the cool flip phones that fit in my watch pocket I didn't need a watch anymore!