One of the timeless principles of the technology industry is that if your product has to rely on users to do a lot of configuration, then it's doomed to failure. Most will spend very little time doing it. That's why out-of-the-box experience matters. That's why default settings matter. And, that's why the best products are "as simple as possible, but not simpler." (Thank you, Mr. Einstein.)
This principle is important to remember as you think about smartwatches.