Ever since Apple gave the world a short glimpse of the Apple Watch, we have been waiting with bated breath to learn more about this latest gadget.  Today during the Apple event in San Francisco, Apple CEO Tim Cook lifted the veil of the device revealing many of the details so many have waited anxiously to see.

Tim Cook took his time before his announcement of the Apple Watch, talking about many of its other category leading products.  The company began by announcing its new streaming video service, HBO Now, that will launch exclusively on Apple TV next month at a cost of $14.99 a month.  Apple also revealed that it plans to cut the price of Apple TV to $69 from $99.

The company also unveiled a new 12-inch MacBook that Apple calls its thinnest ever with a battery life that can last all day.  The device weighs in at a very light 2 pounds and will be available in gold.  Prices start at $1,299 and it will begin shipping on April 10.

The Apple Watch, unveiled as part of the grand finale of the event, is Apple's chance to prove that it can still produce breakthrough products much like in the days of Apple co-founder Steve Jobs.

The watch, as expected, will come in three flavors.  The Apple Sport, will start at $349 with the Apple Watch, the stainless steel version, will begin at $549.  If gold is what you prefer, be prepared to shell out some serious cash as prices for this high-end version of the watch begin at $10,000.

One likely draw for the watch is Apple Pay, the company's payment service that allows shoppers to pay for goods with a simply wave of their mobile device.  Currently, the service is only available on the latest iPhones, but it will also work with the Apple Watch bringing this new payment service to older iPhones as well.

One of the earliest criticisms Apple has received on the watch even before it was released was its battery life, with many believing it won't even make it through your home commute in the evenings.  According to Cook, the watch will have an average battery life of 18 hours under normal use. 

Apple also faces significant challenges in this new market.  The Apple Watch requires an iPhone close by in order to have wireless connectivity or gather global-positioning.  This makes the watch more of an accessory to a device that already performs most tasks very well.

The watch also straddles between the jewelry and consumer electronics markets, creating a different set of expectations from consumers about quality, buying experience, and life of the device.

Still, most analysts believe that the brand appeal of Apple will make the Apple Watch the most successful wearable device on the market.  ABI Research estimates that Apple will sell 11.8 million Apple Watches in 2015 alone.  This will account for nearly half of all wearable devices, including fitness trackers and non-Android smartwatches.