I picked up a Pebble and it does most of what I was hoping it will do, and potentially will do it all with some firmware (or other) updates.
First, I'm on call a lot, generally via email. So having a watch on my wrist vibrate a little as opposed to a phone in my pocket buzz or make a sound is more convenient, and easier to notice (most of the time). It's nice that I can be in a meeting, at a movie, at the doctor's office, have my phone on silent or vibrate, and not worry about it bother other people. Since my response time for on call is usually an hour, a quick glance at my watch is all that is required at the moment the email comes in, at which point I can wrap up the business at hand, or if it's ongoing, I can excuse myself when it's appropriate.
The only thing I wish, was that there was an option to continue vibrating (in some pattern) until I acknowledge the alert. This way, when I'm on call overnight, I can be notified of an email without the sound having to wake my as well as me.
Next, I run. The watch lets me interface with Runkeeper by giving me my current pace, distance and time with a quick glance at my watch, it also lets me control the music on my phone if I happen to be listening to music while running. If I have Runkeeper reading out my pace and other info occasionally, I find it distracting, and I'd rather know those things when I want to, rather that any specific interval. Using my watch is much better than trying to do those things on my phone while running, especially since for security purposes, I need to have my phone lock when not being used.
We have some new laws regarding personal communication devices and driving. Now, I don't text or play with my phone while driving, but having the text show up on my watch can, at a glance, let me know if it's something I want to deal with relatively soon, or if it's something that can wait until it's convenient. I won't get a ticket for glancing at my watch, but I could for trying to view the same message on my phone.
So, yes, I find my watch useful for my set of circumstances.