If that's the case, and the "power reserve" is reasonably long (say 5 days standby or 20 hour talk time, etc...) then it is very cool!
After all, we do move our cellphones quite a lot, as they get bounced around in our pocket, bags, etc...
Instead of just a design like in the case of Tag Heuer, this could be the first phone to truly merry watchmaking with modern communication.
I would get this one over Vertu anyday.=)
Jon