I was waiting for the next iteration of the Apple Watch yesterday, and was a little disappointed with the new models will be to replace my older Garmin Vivosmart (broken).
Looking on Kogan, JB Hi-FI, Apple, it seems that Myer is selling these at the lowest price I've seen.
Space Grey/Black BandSilver Aluminium/White BandRose Gold Aluminium/Lavender BandGold Aluminium/White BandGold Aluminium/Red WovenSpace Grey/Black Nylon
The 2016 "Series 1" 38mm will be $399 (will have dual cores and other minor tweaks, otherwise nothing of note), I felt that for notifications, running, heart rate, lab timer, that this would do the job for me. The Series 2 will be ~$500 and have GPS and other more desired features.
The price point to me is good as it is hopefully comparable to a HR Garmin/Polar/Fitbit with additional IOS features that the aforementioned wouldn't have.
New model also has GPS which is a big feature over the old model.