I think the watches are very neat, and they'd love them. But I've just been surveying them, and don't have a good feel for which model I'd pick yet. The electronics miracle is a dream come true for gadget lovers like me.
Boy your kids are in two great fields. Great choice of college majors. I hope they are into their chosen areas, and not just trying for the most lucrative. BOTH is ideal! If I could do it all again, I'd be a Software Engineer. I'd have needed a little more crystal ball then I had, because in the early 80's when I started as an Electrical Engineer, the level of integration was still small, PCs were still getting going. 10 years later it was obvious, every piece of hardware being made had embedded processors, needing specialized real time embedded programmers (The norm now I bet), and then the run time compiled programming I was familiar with for simulations, and so many other uses, that I could see Software was going to be the high tech field to be in. I was right.
Chemical Engineering has always been hot from the high starting salary standpoint. I worked at a big hedge fund (That blew up :-( ), and we hired a lot of PhD's and an disproportionate number were Chemical Engineers. I couldn't put my finger on exactly why. A high technology background, fits into the quantitative aspect of money management WAY easier than you'd think. It's very mathematical, and computer intensive, and engineers won't be intimidated. PhD's are highly filtered individuals. From the top schools they have demonstrated they are highly intelligent, can follow through with a long term goal, be organized... And to REALLY internalize things like complex mathematical concepts, using them routinely in the performance of another tasks (for years), or teaching it, really produces an expert. And PhD's didn't command a salary premium that their education would seem to warrant.
One thing that bothered me a little was that possibly some of these PhD's really liked the field they got their PhD in, but felt obligated to go where the money was for their families well being. It seems like a shame, and I'm sure it was the case a lot of times. But I think they found the financial arena fairly interesting at least.