@JRB15 and @jdew, that assumes that you remember to put your watch on in the morning. Sleeping with a watch on is about as comfortable as sleeping with your glasses on. So if you're likely to forget to bring your phone with you, you're just as likely to forget to put your watch on. Not to mention that, since it needs the Bluetooth connection, it won't help if your phone is out of range (i.e. left it at your desk at work, left it in the car in the garage, left it at a friend's house, etc.).
The biggest downside is that, at $349, you get a universal remote that has a tiny screen & needs to be near your phone for the more useful things. If it was a stand-alone device that didn't require the phone connection, I might see the usefulness of it...but not the way it's described.