How is this e-paper anyway? Other than high contrast and B&W, the screen doesn't look like e-paper at all compared to my e-reader. It looks like a very dynamic LCD which just happens to be B&W.
yes, that is a good question. I note they seem careful to not use the term "e-ink", which is a specific product. Anyone that has used an e-ink reader will know that they probably would make crappy watch displays. The video prototype they showed looks nothing like my e-ink reader - it has smooth animation and transitions from what little I saw. So I am guessing it is either a new technology altogether, or a new variant on e-ink or something like a Pixel Qi screen maybe..?
Looks pretty cool though. Reminds me a bit of sci-fi stuff where you have sort of these small "terminals" that interface with bigger systems. So you'll have your small watch, which interfaces with your phone, which interfaces with the Internet/other PCs. It'll be cooler when further miniaturized and when we get better stuff like voice recognition and speech generation.