iWatch Mock-Up

Please don't check out the "@2x" version - because there's none!

First of all, i am not into physical product design at all - so please be kind (i know it looks basically like the bastard child of a Fuel Band and an iPhone) :)

After several weeks with my new fuel band and a quiet disappointing revamp last week it got me thinking what functions i would love to see in a so called "smartwatch" like this - not that many actually.
But I really liked the idea of wrapping the Interface around the wrist and have something like the clickwheel rotating around my arm. The main problem is, i love the form-factor of the fuel band but would it be practical to read more text than "GOAL" or even interact with it? If the possibilities are just swipe and tap i'm sure it's possible but a watch has to be something that people like to use and i am not quiet convinced if this would be the fact.
But what we've seen so far is either ugly or stupid or both - and the conclusions gonna be: smartwatches are just pricy unnecessary gimmicks, until "somebody" will teach us better :)

(High Res: https://dl.dropboxusercontent.com/u/13262753/iWatch_concept_BIG_thomasbogner.gif)