Right, since I ran out of room in the description, here's the plan. It consists of three stages.
1) Spread out development board with integrated debugger and power measurement. This is already underway in the design stage.
2) Smart watch sized unit, likely a 4 layer PCB, using the QFN package. Custom printed case, not going to be super polished or water proof.
3) Funds permitting, custom milled/SLS printed case and inserts, high layer count PCB (6 most likely) to minimize size, usage of lots of chip-scale packages (the MCU is QFN only for now, but Nordic is planning on releasing the CSP variant later in the year). If the project goes well, I'll request engineering samples for the MCU in order to be done in time for the contest closing in October.