The new Apple Watch was announced last Tuesday and so far Apple has not released any materials identifying its dimensions, so I spent the afternoon today analyzing Apple videos and Apple's PR photos to try to derive it's dimensions.
The only front facing photo of the watch on Apple's site is the watch next to an iPhone 6. It was clear that it was a 6 and not the six plus because of the app icon to phone ratio. Knowing the dimensions of the iPhone. I was able to estimate the size and dimensions of the new watch as shown below:
If you exclude the crown, the dimensions end up being about 36 x 42 mm (1.4 x 1.6 inches). The inner screen appears to be about 40 mm (1.5 inches).
From the side, the dimensions are 9 x 42 mm (.37 x 1.6 inches) without the sensor ring at the bottom. Counting the sensor ring, the total height is about 11.5 mm (.45 inches). That means that the Apple Watch is approximately 67% wider than the new iPhone 6. I suspect that the rounded corners should make the watch seem much thinner than it actually is.
In order to better understand the size of the watch, I have compared it to a credit card, an iPhone 6, and an iPhone 3g.