It shows me an incoming phone call. And I can pick or cut the call, right from my watch.
I get to read new SMS on it.
I can read my Twitter timeline, replies and post a tweet right from it.
It tracks my daily activities, like sleep and walking, and shows me a report of how many steps I have taken that day and how many hours I slept for.
It has an alarm that monitors your sleep cycle, wakes you only when you will feel refreshed and not in the middle of your deep sleep cycle. I used it this morning, set it to wake me between 4:45 and 5:15. It automatically selects the appropriate time.
I also get to read my mails, see my calendar and get meeting notifications on the watch. It can connect to an online map (Google Map or Apple Maps) to show you where you are, the direction to where you are going and how far you are away from your destination.
It can also help you find your phone. It will make it start ringing loudly whenever you feel you're not sure where you put it in the room.
It shows you your phone battery level too, so you can know if it is time to charge your phone or know if someone has unplugged your phone.
All in all, it's an amazingly cool smart watch!