It's not so much that the modules suck (they're quite often still working) - it's that the displays do. They were lousy quality even when new and the fact that microma chose to attach them to the modules using silver epoxy and resin certainly didn't help. I've got four of these and none of the displays work (probably because they're no longer air-tight).
This story pretty much sums it up...
"One of the company directors at Intel, Gordon Moore recalls: "We started off selling watches for about $150 retail, which was something like a dollar a minute for how long they lasted. And a regular agenda item at Intel board meetings essentially used to be members bringing back their watches to be repaired."