We've already talked about how the iPod Nano is so small, a lot of people are turning it into a wristwatch. In fact, the strap we featured wasn't the first of its kind, and definitely not the last. That's a lot of options for straps, but not so much for the watch face.
Kenneth Cole has a more elegant solution. Instead of spending over $200 on an MP3 player and a strap just to get a multitouch timepiece, why not get an actual watch that costs a lot less? These Kenneth Cole Digi-Touch Watches go for $125-$175, and come in several designs. It won't play MP3s or video though, so whether it's a worthwhile trade off is up to you.