That's what I've been saying, regarding this watch. There's no way we've seen all it'll do. I'm not expecting crazy, unrealistic stuff, but let's be realistic...it wasn't all that earth-shattering, function-wise, last Tuesday.
It'll grow and add, I'm sure.
And, yes..."things". The home automation stuff will eventually factor in and be watch-controllable, I'm sure. A lot of things will. All these things we've been seeing laid out and implemented in little chunks over the past few years, they're all building to something. It'll start small and modest, but in 3-4 years, it could be Huge and Important™.
You're right about the press...good grief, they're gonna lose their minds.
But Gruber's got a point, and it's been stated by others here: Apple isn't positioning this as a gadget-y "smartwatch" to "take on Google". It seems they're going for something much bigger..."a good watch, period, that'll do more than any you've ever owned", analog or otherwise. It just happens to be made by a computer company (because it's got a little computer in it).
Still, though...I don't see how they're going to pull those Rolex guys and other high-end users off their routine. This is going to be so interesting to follow, these next few years. It's all completely unknown and up-in-the-air. And will be for some time to come, even after the prices are known and they're in the stores.