So, you didn't get signed up to get one of the first Pebble watches on Kickstarter? Well, you have a fallback plan now. MetaWatch, a spinoff of watchmaker Fossil, has released a new version of its self-named watch in developer kit format that specifically uses Bluetooth 4.0 (found in the iPhone 4S and iPad) to communicate to your device without being a drain on the watch or phone battery.
This isn't exactly a mainstream smartwatch ... yet. It's really targeted to developers who can write their own apps to take information from the iPhone and display it on the watch, but hopefully if enough devs get excited about MetaWatch you'll be able to purchase one without the need to be a programming genius. The watch is available immediately from TI's eStore (it uses a low-power microcontroller from TI) and MetaWatch's store page for US$199.