I always wear a watch, even around the house where there are clocks. I'm a watch collector; it's a hobby; I like to keep track of time (I'm self-employed and work a lot at home). I prefer the round style of the Moto 360 because anyone glimpsing it on my wrist will just think it's a watch.
If it's a big rectangular thing, they won't think that. Maybe they'll think it's another of my geek toys instead.
But I'd like them to think it's a watch.
For those of you who don't wear watches, I'd probably advise against splashing your cash on a smart watch; you'll probably hate it and in short order it will live in a drawer.
I also would like people to think it's a regular watch, and doing this retro round thing is of course a strike of genius, because it's simultaneously classic and novelty in one package. Regarding "Ho-hum" well, taste is always personal, but judging from the reception it's received around the web you could almost say the Moto360 has already accomplished the goal of marketing Motorola and Android Wear singlehandedly. It would be a classic, if it weren't for the fact that it will quickly become outdated, tech wise. The thin bezel, despite that patch at the bottom, also contributes to its good looks.
I've had several analog/digital smartwatches from the SonyEricsson MBW-line, and the Live View. The Live View was a geek toy, really. The MBWs were perceived as regular watches. Since I got them way back when, very few realized it was connected via Bluetooth. A programmer created an app that enabled 40 functions when used with a Windows Mobile phone. Caller ID, SMS, mails, vibration alert, chrongraph. It was a lot of fun just to follow the evolution of the software and what it enabled the watch to do. With Android Wear that will be a thousand times more fun. Product quality was partly bad and the panel gave up within a few years after date of manufacture, so getting a new one didn't help. My conclusion: smartwatches are consumables, because tech marches on - processors, screens, antennaes etc. Eventually that rechargeable battery will die. That's probably also why I wouldn't expect any 24k gold versions, at least not one with a hallmark.
I'm old enough to have worn one of those LED watches way back when. Had to push a button to see the time, and push it twice to get the date. Mine was rectangular but there were of course circular versions as well. Although the lit part was tiny at the time I remember thinking that it looked odd with a round watch, not modern at the time. So at least I can understand your sentiment, Kalvin, although today I disagree - the round is novelty. I'm willing to pay just to see what the screens look like when they're round. I'm sure rectangular watches could look good, too, but in my opinion they all look really, really bad currently. Part of that is the wide bezel. But with for example Samsung's flexible YOUM panel a rectangular watch could look really great enabling no visible bezel.