> selling these smart watches for the sharp price of $149
Cool idea, but there seems to be a massive misstep in logic somewhere in there. If it's supposed to be a thin client to the phone, then it needs to act like one (not run apps). If it's supposed to be a somewhat thicker client, you need to travel forward in time from 1988 until now and insert more space, provide an OS (even if it's single thread) to manage said apps and possibly more then an on/off button for input.
http://inpulsewatch.com/watchapps.asp