Yes, as well as telling you the time, it also indicates the availability of Wi-Fi and the strength of that signal by a press of the Wi-Fi button. Connectivity is scaled from 0 to 8, so if you wander round long enough, you should be able to find a decent position.
As a watch, there’s also world time, alarm and calendar functionality and a backlight. Seems a reasonable buy for around $30 (£15).
ThinkGeek (via Technabob)
Art Tech unveils e-paper faced watch
Puzzle your groupies with ThinkGeek’s Air Musician Virtual Guitar watch
Pong and Tetris on your wrist-watch? It could only be a concept product, sigh