I just received my ICWatch from ICStation (http://www.icstation.com/icwatch.html) . I can find very little about anyone building it on the WWW, so I'm thinking I should do some Notes or an introduction.
So, the kit contains:
the 'case', a slightly larger than normal watch.
the electronic components taped to a small sheet of paper
the OLED display
you need to provide the battery and the soldering.
The ATMEGA328P seems to be un-programed, so needs a bootloader and then you can use the Arduino IDE to program it.
I'll add some pictures later.