There will always be new products coming out so, you might wind up "chasing your tail". They predict that the wearable market will be the next trend in tech so, therefore, you can almost expect constant changes. The GG was just released at the end of September so, in some aspects its relatively new. Yes, there is a rumor of a newer GG coming out soon but nothing has been confirmed as of yet.
I bought mine for $199 when I upgraded to the Note 3. When i first bought it, I was on the fence about returning it and kept going back and forth between the Pebble and regular watch. Now that I have used the GG for awhile (4 weeks), I will not get rid of mine. Part of my hesitancy was constantly referring to this device as a watch. It is not a watch but more of an extension to your cell phone. It displays texts, checks weather, has limited apps, notifies you of emails and such. Allows you to make phone calls and receive them as well. i thought the phone call part was rather gimmicky until i got a call in the car and decided rather than try and find my bluetooth or my phone, i would just answer the call. Other times, I got a call from someone when my phone was not immediately near me and I answered it. Or, when i was shopping and my hands were full and I just answered the phone right there.
The camera seems kind of gimmicky but Samsung has visions on making it more of a value.
The other thing, is that I have had people ask me about the watch and what I think about it. My students surprisingly knew exactly what I was wearing. Since I teach its a PIA to constantly pull my phone out and its nice to stop and look at my watch in the middle of my teaching to see who texted me or who called. It minimizes disruptions. By the way some people have jail broken their watch and found that the Operating System is Android so, they can run it like a phone to play games like Candy Crush and such. It has some great potential.
Look around between Ebay and Amazon, i bet you could find one for 199 and that might help the decision.