I took a brief look at info on the Qualcomm watch. It's just a prototype, not a release so they are a long ways from having a product and are really just trying to interest OEM's in making it. I think they are just trying to throw their hat in the ring and not let everyone else get too far out in front of them.
Wearable computing is picking up speed. I'm excited to see what Apple and Intel have for us in the way of news. In a week we'll know a lot more.