Just found that product and wanted to show you in case you look for a new watch and / or just something to shop.
No, I will not become like Engadget but that is fun: SonyEricsson MBW-100 Bluetooth for 249,-Euro is a link between your mobile and you. Via Bluetooth you may answer a call or control the music player within your phone.

The copy says (see below, in German) that we look 100times a day on the watch. Thats what I do with my mobil. This way it's just one look at both.

However, I avoid wearing a watch and believe in my "inner watch" to keep control of my time. And anyway I'll wait till end of the year for the iPhone. Then everything is melted together finally.

Pictures at Daily Gadget
German copy here
Google