What I believe Apple will introduce is something similar to the iPod Nano. It will include the Watch-faces (of course), calendar, photos, nike+(maybe a more advanced health app). However, It won't include a music player directly from the watch since it's a iWatch not an iPod. What I believe the "innovation" of this product will be is the ability to somehow (maybe bluetooth) synchronize the iWatch from your iPhone, giving it the ability to receive texts, phone calls,...