The good: News, Weather, Sports, Stocks, Instant Messages (Sort of), the ability to show off the latest high tech gadget.
The BAD: The transmitter that broadcasts content is often down, placement of the controls (I have the Abacus) makes it to easy to inadvertently reset the watch. If you accidently move your wrist just right you lose all of your data and the time resets to 3am 1/1/2001. Not many programming options available yet. Interferance from other RF sources. If you work in a high RF area like a navy ship there is an interferance problem. If you're out to sea there is no signal at all which makes the accidental reset problem even more problematic. The new clock face feature is nice but if your download is interrupted for any reason you don't get the new face which they only release once a month. If you miss it you don't get it.
Reccomendations: Buy it if you have to have the latest high tech toys but be prepared to deal with growing pains in the network. Don't buy it if you work in a high RF area or travel a lot outside the coverage zones.