Update: The Apple Watch event is going on right now, so join us live for all the latest news including - we hope - a firm Apple Watch release date and price.

We're all expecting wearable related talk at Apple's "Spring Forward" event today, with the vague April release date getting narrowed down to a single day, the cost widened to include the prices of the more expensive editions and the whole 2.5 hours of battery life rumor debunked - hopefully.

• Apple 'Spring Forward' Event Live Blog | Hands on: Apple Watch review

Apple Watch is at long last coming in April - you can set your friend's inferior Android Wear watch to it - and we know all about what's literally been hiding up CEO Tim Cook's sleeve.

It's a sapphire-coated smartwatch officially dubbed Apple Watch, shedding the fabled iWatch moniker as the company focuses on its first chic wearable over geeky tech.

Matching Apple's drive for style, this iPhone-compatible watch sports a premium rectangular design with rounded-off corners, though isn't a circular smartwatch like its fashionable rivals the LG Watch Urbane and Moto 360.

Of course, behind that pretty watch face, it's still a powerful gadget and works seamlessly with iOS 8 devices including the new iPhone 6 and iPhone 6 Plus.

Here's everything we know.

• All 34 Apple Watch designs: Every band, case and face so far

Cut to the chase

• What is it? An iOS 8-friendly watch that plays nice with your iPhone
• When is it out? April, but we might get an exact date on March 9 (today!)
• What will it cost? Starts at $349 (likely north of £220, AU$400)

Apple Watch release date

The closest we've come to an Apple Watch release date so far is "April", but that's likely to change later today when Tim Cook and co. take to the stage in San Francisco at the firm's special "Spring Forward" event.

There have been rumors that have suggested March for the official Apple Watch date, but it'll probably land in early April. Either way, we've only got a few hours left to find out the answer.

Apple Watch battery life

Tim Cook didn't go into great detail about the Apple Watch battery life, but he did hint that the smartwatch is designed to be "worn all day" and is "simple to charge at night."

"We think people are going to use it so much you will wind up charging it daily," Cook later reiterated at a conference in late October.

That had led us to believe that the Apple Watch battery life will be approximately one day, sort of like the Moto 360, LG G Watch and Samsung Gear Live we've reviewed.

An Apple spokesperson backs up our theory, more or less confirming that the smartwatch requires a daily charge. The person also reportedly said Apple is working on modifications to eke out more battery life.

Of course, more recent Android Wear watches like the ASUS ZenWatch, Sony SmartWatch 3 and LG G Watch R actually push a day and a half, partly thanks to the Android Wear software update.

Disturbing reports about Apple Watch having as little as 2.5 hours of battery life have also surfaced, but those are just unfounded rumors and seem overblown and likely based on always-on prototypes.

Easy to connect like a MagSafe power adapter

Previously, when it was known as the Apple iWatch, it was rumored to have a 400mAh battery, but Cook is saving that announcement for a later date or when we finally test it out in April.

He did, however, call attention to the unique recharging method. The Apple Watch's back crystal houses a magnetic inductive wireless charging solution similar to the MagSafe design.

Again, it looks as if Apple bucks another trend - this time it's the popular Qi wireless charging method - in favor of its own standard.

The good news is that it apparently at least features a low power mode dubbed Power Reserve. With this mode active all you can do is see the time, but it should help eke out more life.

Price

We're no longer asking "when will Apple Watch come out?" Instead, we're focused on "how much will the Apple Watch cost?" There's really no precedent for a truly premium smartwatch price just yet.

The answer: More than we were hoping to pay, even though its specs may be on par with Android Wear.

That notorious Apple tax pushes the pricetag to $349 given components involved. That's £220+ in the UK and AU$400+ in Australia, but expect those prices to be even higher, above the straight dollar conversion.

• Before iWatch: the timely history of the smartwatch

It's true that Apple has recruited high-profile people throughout the watch and biometrics industries who have wound up on its Apple Watch team. That talent comes at a price.

Then there's a hidden cost. While a subsidized iPhone 6 and iPhone 6 Plus are cheaper upfront in the US, stores make up the difference with contract kickbacks. Not so with a smartwatch. Stores need a cut too.

Apple Watch cost way more than your average fitness tracker. Are you willing to pay?

For the sake of comparison, Android Wear's cheaper initial watches included the Samsung Gear Live at $200 (£170, AU$250) and LG G Watch at $230 (£160, AU$250) at launch.

But Apple's biggest and most stylish competition is from Motorola and its Moto 360 that's priced at $249 (£199, around AU$275).

Apple is aiming for luxury given the sapphire glass-protected display, an imposing digital crown, two sizes and even the 18k gold colored edition. Expect prices for that version to climb even higher.

What does Apple Watch do?

Apple's first wearable gadget beams messages, Facebook updates and simplified apps to our wrists, eliminating the all-too-common need to take out our devices to constantly check notifications.

There are more than a dozen ways to interact with the watch, from receiving glanceable notifications, to feeling "taptic" feedback, to summoning Siri, according to the developer WatchKit software.

It's going to become especially convenient to pocket the 4.7-inch iPhone 6 and even bigger 5.5-inch iPhone 6 Plus in your jeans, or to always stow the thin, but still 9.7-inch iPad Air 2 in a bag.

Is that phone call from a telemarketer not worth your time or an emergency from a loved one? Apple Watch makes mundane notifications easy to dismiss while keeping you in the loop with important alerts.

A handful of the Apple Watch apps being demoed

The other big element for the Apple Watch is on health: the smartwatch also takes cues from the Nike FuelBand SE and other fitness trackers with health sensors and nutrition apps, a must for any serious wearable gadget these days.

The Apple Watch is designed for your everyday workout, going a pedometer step further with a custom heart rate monitor that can compete with some of the best running tech around.

Other rumors suggest the Apple Watch will also be able to help track wearers' glucose levels by displaying notifications from medical company DexCom's glucose monitors.

But while that's a sensor that connects to the watch, there's news - also from the Wall Street Journal - which suggests that Apple has had to scale back the inclusion of things like stress sensors and blood pressure readouts to augment the health app.

Other apps seen in the Apple Watch video include iMessages, Health, Calendar, Weather, Mail, Photos, Camera's shutter button, Passbook that now includes Apple Pay and even Apple Maps for navigation.

The number of apps coming is increasing all the time, even before the launch of the watch, and users can even try out the functionality of the wrist-dweller before deciding to go out and buy one.

We've rounded up the best Apple Watch apps to help you decide whether you'll want one at launch. Many will be extensions of built-in iPhone apps, but there will also be new ones.

Use the watch as a flashlight (by making the screen go white), track your pizza delivery or even browse Instagram without getting the phone out of your pocket - certainly a hassle of some more than others.

All of these Apple Watch apps and settings can be organized within a single iPhone companion app for the smartwatch, according to newly leaked iOS 8.2 beta details.

Apps are sure to make use of the heart-rate monitor in back

Developers are now readying more Apple Watch apps thanks to the WatchKit SDK launch. They're being given a headstart with the software and it could bring a whole new section to the iTunes App Store.