It's funny how different designers come up with different solutions to problems. The situation at hand: how to carry your entire computer data with you in a portable device. The first approach uses a device that can be at best described as big. Gargantuan, by all other standards. I mean, who really would want to carry around that thing on their wrist? "Calling Dick Tracy...come in Tracy...I'm getting carpal tunnel and falling over just from using this darned thing...help...".
The other approach takes your standard iPod or keychain flash drive and enables it to house and run your entire OS, personal files, settings and all. Not a bad design, since most people already carry these devices with them anyway. My only gripe: I carry a keychain drive with me today, and have applications installed on it. Therefore, from any host computer, I can start my own email reader, web page editor, and other things, all with my own settings and preferences. Therefore, I'm not sure I see a real need for this guy's solution, since it's possible to already do this yourself.