In case you haven't heard, 2011 is the year of the iPod watch.
Recently another Kickstarter iPod nano watch kit was successfully funded: Quad Mountain LLC's Ultimate One. The project was funded on December 18, 2010 and raised $12,340 -- 158% of its goal. (Kickstarter landed on most people's radar when mnml raised a record $900,000 for its LunaTik nano watch kits.)
Like the Model-T, entrepreneur Tim McLellan's all-silicone Ultimate One ($30) watch band only comes in black but the website lists six colors as "coming soon." Although it's a seviceable design, I didn't like it as much as the $40 Tiktok. The silicone rubber is thinner than I would like (although some might call this a feature) and my nano popped out once while tweaking my wrist, admittedly a little more than normal.
One advantage of the Ultimate One is its "north/south" port orientation, which allows you to attach an accessory (like the i10s Bluetooth dongle) so that it juts out of the top or the bottom of the watch band. The theory is that "east/west" bands could become uncomfortable when using a Bluetooth adapter -- or worse, damage it -- because it protrudes too far into your forearm or hand.
It's not my thing, but someone looking for a low-profile nano watch band that uses Bluetooth all the time might want to check it out.