This may seem silly if you haven't experienced parental sleep deprivation, but anyone who's cared for a newborn for any length of time will undoubtedly understand its usefulness. The "Itzbeen Timer" tells you how long it's been (get it?) since a baby's last nap, feeding, diaper change or anything else you're sure to forget a minute later.
Could a pencil and paper do the trick too? Sure, but that assumes you can remember your own name after the first week back from the hospital. In addition to alerting you for each appointed task (and it seems like an infinite number), the Itzbeen lets parents set time limits in case you fall asleep in mid-parenting. Other practical features include a belt clip, backlit display and a nightlight so it can be found in the dark. Brilliant.