I has gone to Candra Narayanaswami's lecture at TIFR today. He's the researcher from IBM wearable computing division who built the Linux powered watch. The talk was really good he explained stuff in good detail and showed a movie about the linux watch. He even passed a linux watch and the circuit inside the watch for everyone to see. The watch uses the Strong ARM processor by Cirus Logic it has 8 MB flash memory runs the 2.2 kernel with X11 R6 has a touch screen IRDA and RF interfaces for communication. the battery has hold up to 60 hours the coolest part of the watch was the 700 dpi Organic Light Emitting Display which is supposed to be the resolution of a laser printer the display is crytal clear and also saves power. Over all great lecture.
Check out this guys site for more info on the watch
http://www.research.ibm.com/people/c/chandras/
regards Vicky