This would be extremely appealing if it had sufficient I/O to make it into a mobile, basically headless computer you could hook up to whatever display or input was handy. Looks like it only has a single MicroUSB port though.
Theoretically, it has the CPU, and the USB port is 2.0, so you could manage a USB 2.0->VGA converter.
I've heard such converters are the hardware equivalent of running the unaccelerated VESA driver due to the low bandwidth though. I don't expect it would do 60fps beyond 1152x864 and 30fps beyond 1280x1024.
Speaking from experience: these things are only useful for running powerpoint presentations. They break down even on scrolling a browser page, much less playing video.
Kinda sad none of them spent the extra effort on building a differential update protocol of some kind - but then the processor inside would probably need to be 250MHz+...
You could do microUSB -> MHL -> HDMI, and maybe use the watch bluetooth for mouse/keyboard input.
Though I don't think MHL is open source, and I'm probably completely wrong in thinking the BT hardware on that could be used with the bluetooth host stack
MHL is not based on USB, only runs over the same cabling, so that wouldn't work (unless for some totally crazy reason the watch has the necessary hardware, totally unused)
