The AIBATO M Bluetooth watch from Citizen has a close relationship with your cellphone. It can alert you to calls and display caller information, emails and news tickers. It can even remotely operate a camera.
Yeah, that last feature sounds a little dubious (like it could be used for evil), but rest assured—the watch will be available in Japan only starting on July 1st and will work with only a select group of phones. [Citizen via Slashgear via OhGizmo]