If you're wearing a watch to tell you that you are late then you're doing it wrong! I consider the modern wrist watch as a piece of accessories then a time piece. Otherwise a cheap Casio watch is good enough. Heck you can even do your tax returns on it!
+Mike Nguyen why you still don't get it? iWatch is not about telling you what time it is, it is a new front human beings interactive with a computing device.
http://asktog.com/atc/apple-iwatch/
Though that pic above is the closest representation to what i'd expect to see if it's released.