I actually had a better one, with a remote control device. It could learn the IR signal from a hand-held remote control and send commands to control any device. It was a miracle and I loved it. I remember annoying one of our teachers at school by messing with the TV/video setup during an AV presentation.
The NYtimes has an interesting article about how tech-watches have simply missed the boat in terms of personal devices. The article mentions some companies that are looking at creating watches that are either replacements or companions to smartphones.
Do they have cameras? Not yet, but they could. They would need to be really low-power. There are also a lot of privacy issues with a person carrying a (possibly) live, uncovered camera on them at all times.
The article sounds skeptical, and I can understand why. Some of the descriptions of possible niches for tech watches seem pretty contrived. The worst is a watch that syncs with your phone, and basically filters certain content that you might want to keep track of. That would really be a meta device, that perhaps constantly keeps track of high-frequency content that is too trivial for you to keep taking your phone out (email, twitter perhaps?).
Also I like the security aspect of it. I find the prospect of losing a smartphone through carelessness to be frightening. If my phone was safely strapped in, while my watch allowed me to limit the number of times I took it out, that would be good.
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