When it first arrived I noticed that the screen was much larger than it looked online - perhaps all of the side-by-side comparisons with the Moto 360 made it look tiny, but it's actually a decent size. The battery life was impressive after the system update that comes about 10 minutes after first setup.
I mainly use it for changing my songs while I'm out and about. You don't realise just how much of a pain it is to take your phone out on the bus etc to switch songs, but having a few taps of the watch is such a convenience.
The only flaw I've noticed with the watch is when, for example, you switch both your watch and phone off in the night, and wake up and switch your watch on *first*... it basically shows the time that appeared on the watch when you switched it off! e.g. if I turn it off at midnight, then in the morning it'll show midnight when I switch the watch back on. I have to sync it with my phone again for the watch to acquire the correct time again. Not a big deal, and I assume it would get fixed eventually, but still...