If you're just tuning in, see my post from yesterday about my new Pebble Steel. I have, of course, endlessly messed with it and researched the pros and cons of Apple Watches, and right now I doubt I will get an Apple Watch.
I found the answers to many of my (deal-breaker) questions in posts like this one. This may not matter to a lot of people, but basically the main use case I have for an Apple Watch won't work, so at least for its first generation, I might as well keep my way cheaper Pebble Steel.
The Pebble has lost BT LE connectivity once, but I just reconnected from my iPhone and it worked. If it does that a lot it will be annoying and I'll probably take it back.
But the thing is fantastically customizable, something that Apple products rarely are, at least in their early incarnations. Check out the watchface I created for my Pebble! I like the ability to do this kind of thing. And no, it doesn't look that huge on my wrist. I was angling it up toward my phone. It's not SMALL, but I have the tiniest wrists ever and it's not horrible. I wouldn't like to be stabbing about on the screen to touch those tiny circle icons, though.