I just got my LAKS Memory 128mb watch back (link). Myself and a friend bought one a couple of months back.
The USB connector degraded with general use. It was interesting and convincing that there are issues with the way the tension during the connection of the watch to a computer. For both watches the quality of the USB cable degraded to prevent the USB function. The failure of both watches occurred within a couple of weeks of each other and about 8 months of general use (which can only show a common flaw).
Given that it failed, I can only say that the service provided by LAKS was unquestioning and impressive. I recommend them as a company. They gave us both a new watch and I can only hope that its functionality won’t degrade as it did before. The watch’s connectors do look as though they have been improved upon.
I must say that its usefulness is indescribable and I would recommend it to anyone that works with computers. You'd typically not have a memory stick available when you need it... with a memory watch you've always got disk storage available. I've did away with the FDD about 5 years ago. The only hassles I’ve had have been during a clean operating system install. Until recently I used to have a 4x/8x non bootable SCSI CDROM drive. With the internet available everywhere... Email has always been preferable to 1.44 FDD... but once in a while there is a 20mb file or a whole lot of 'stuff' that needs to be moved. While a rewritable CD is accommodating, it is still a bit too large to carry around (I’m lazy and not willing to put up with the hassle.)