SMS Technology Australia has finally made available the first cellular phone wristwatch, the M500. The screen is a 1.5-inch TFT touch screen, which, oddly is also meant for movie viewing as the M500 also support MP4 playback as well as MP3 and AAC. The "mobile phonewatch is a quadband GSM world phone with GPRS. It fully supports SMS and MMS (probably through a virtual keypad, because I don't see a traditional keypad anywhere). Onboard memory is a decent 128MB.
The M500 supports data and voice Bluetooth, has a USB port and is Java and WAP enabled. It's pretty much a fairly decent medium-range phone that can be attached to your wrist. At 60g, you can actually wear it all day. Battery lasts 80hrs, so the only reason to take this phone watch off is when you take a shower. We'll have to wait for a waterproof version before we can take this phone diving. You can purchase the M500 here for $820. You will need to create an account, though.