A Watch That Takes Phone Calls and Posts to Facebook? Here It Is...

The Consumer Electronics Show (CES) is under way in Las Vegas and new gadgets are hitting the convention floor daily.

One item getting considerable attention is the new Italian wristwatch that qualifies as a "smartwatch." Meet "I'm Watch:"

I'm Watch makes and takes phone calls, plays music, sends and receives email, and can connect to all of your social outlets like Facebook and Twitter.

(Related: See the top five concept cars at the CES)

Check out the video from the company:

There are a couple of caveats to this story. Tethering to a smartphone is required to make and receive a phone call, and not all companies allow tethering. And a Bluetooth connection is needed to make the phone capabilities work. Bluetooth use can have a serious effect on battery life.

Acquiring and  playing music on the I'm Watch is just a little different from an iPhone or iPod

Since I'm Watch has limited storage capabilities (current models offer only a 4 gig flash drive and RAM of 64 or 128megs), music comes via an I'm Music online connection. As I'm Watch describes it:

An endless choice for endless music...

Unlimited, on-demand access to millions of songs, custom radio stations and personalized playlists.

Of course there is a fee involved for music, and the choice of plans should meet the consumption needs of most.

Standard talk time for the device is listed  between 3-5 hours and I'm Watch says the battery will last 24-48 hours before needing to be recharged.

Its operating system is Android based and the screen measures just a touch over 1.5 inches with 240x240 pixel resolution.

Cost of the I'm Watch can vary widely. The company offers a base model (with 64megs of RAM) for $249.00. Those who crave the best of the best can order a designer version of the same technology, decked out in diamonds and gold for close to $15,000.

If  you deem it a can't-miss gadget, let us know how it performs.