Some words from PulseOn: “We make heart rate monitoring easier than ever, PulseOn tracks your heart rate continuously. But it goes beyond tracking. PulseOn tells you what your heart rate means. We make heart rate monitoring easier than ever, for you to reach your full potential.” And on their Youtube channels they show Training Effect, Trainin Intensity, Fitness Level and Recovery Time as being features.
The diagram above shows a link to a SmartPhone app.
So it looks like we have a rather nice looking wrist watch probably with built in optical HRM. It probably also has Bluetooth Smart link to a smartphone. ANT+ is less likely but quite possible. Considering all the heart rate stats they seem to be majoring on then they will be looking at something like what FirstBeat offer. Combining that with the optical HRM would make it unique I guess.
Would it have GPS? Probably as that would make it more able to justify a higher price tag and give the option for future feature additions.
24×7 monitoring might also be on the cards if it has a decent battery.