You say
/m6 - "what hope is there for wearable gadgets in this decade?"
I suspect there's a "lateral thinking" way around this. I suspect that if we start to look into a future where high-speed broadband, with low latency, is ubiquitous, then you start to ask yourself a different question.
You start to wonder, not "how can I get all these features into a portable device?" but, rather, "how easily can I connect to a server which provides these features remotely?"
There are "degrees of remote" too. Something beyond the capability of a slow, power-miserly wrist-phone may well be easy over Bluetooth, for the processor in your briefcase. Something which your briefcase processor can't cope with, might be easily performed by your PC back at home, over the Internet.
Think of it as "processor cacheing" and see where it takes you?