There are actually three products: Apple Watch, Apple Watch Sport, and Apple Watch Edition. The differences between them are only apparent in the different materials (including aluminum, 18K gold, and pink gold) and wrist strap choices, which vary between feminine, masculine and youthful.
The Apple Watch starts at $350, and it will be available "early next year," according to the company. Pricing for Apple Watch Sport and Apple Watch Edition were not announced at today's event. The watch will require an iPhone to operate, but it works with the iPhone 5 or later and isn't limited to just the new iPhone 6 devices.
The interfaces of all three phones are alike, and there are a number of standout features.
Instead of interfacing with the watch by touching the screen, which just gets your fingers in the way and blocks your view, you can navigate through the menus and apps by touching the crown. Twist it to zoom in and out of screens and menus. Press it and you go back to the home screen (just like on the iPhone).