Forget watches, health sensors and the rest. Clothes - as in fashion - are going to be the end-game in wearables. is an interesting article electronics and fashion. Although the iMiniSkirt retails for £3,750, I don't think it will be too long to move wearables from CuteCircuit to Primark.
Being a technologist, not a fashion designer, I missed seeing the opportunity offered by accessories (belts, shoes, bags). These are not constrained by size, weight and the need to feel comfortable when worn, in the same way a clothes, and I assume that's why the aforementioned CuteCiruit now has a range of accessories.
But back to clothes, Google have just exposed Project Jacquard, which promises to deliver fashion compatible textiles which can be used as sensors. This makes clothes that respond to the wearer's motions and emotions another step nearer.