I used/liked:
1. Show to people at parties/in social situations, people are very curious about it
2. Look at texts/email (and possibly fb/twitter, but I didn't want that stuff going to my wrist) without taking my phone out. Especially when driving with both hands on the wheel, reading short texts (one word/short sentence) was pretty easy (and not too terribly dangerous, I thought).
3. Configurable face is amazing -- you can design your own watch face, add widgets like weather, battery, bluetooth connection, etc
4. If you develop, it's great to at least have one thing on the platform, in case you decide to develop for it.
One of the negatives is the closed platform. Like the galaxy gear, Sony doesn't really make it easy for you to modify the hardware/low-level software, and there's the whole silly "get our app to communicate" business, which is just trying to lock people into a walled garden.
But all in all, the smartwatch 2 is fantastic, and it's got a great (non-prohibitive) price tag. I got mine for like $100-130 on Newegg Flash
And yeah, PT Cruisers are terrible.
Genuine question: Did you include "rectangular" because you would prefer a circular smartwatch? I genuinely don't understand why people would want a round smartwatch. I don't see how a round screen would provide a good UX (this is why they don't make round monitors, or round smartphones).
Even if watches are traditionally round, I wouldn't want to have to build a UI around the constraints of a circular screen.
Whether you implied this, I have seen multiple people voice their preference for a circular smartwatch, so just trying to understand the logic vs. the constraints it would impose.
I'm sure a watch that was 6 inches wide and went halfway up my forearm like a gauntlet would be awesome to type on and read email, but I wouldn't wear it because it'd be super ugly.
The problem is that a watch is an object of fashion first and foremost. That's why you can find people willing to pay $10k for a Rolex Submariner or, say, an Omega Speedmaster "Dark Side of the Moon". They're the ultimate status symbols. That's what watches have become -- status symbols.
Apple clearly understands that with their Edition edition (though they didn't think through that name very well) and the general high-end finish of all the watches (even the Sport edition has a stainless steel frame around the watchface), but I think it was a mistake for them to choose a rectangular screen. I personally had hoped Apple would be the first company not just to make a circular smartwatch, but to also design a custom UI for a circular screen as well (as opposed to just slapping on Android Wear like the Moto 360 does).
They are not even remotely as popular as circular watches. I don't personally know a single watch aficionado who wears a square watch.