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What I'd love to see is a SPOT chip set integrated into a Pocket PC or a Smartphone.
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Exactly!
Or... The SPOT watch should have Bluetooth that connects to your PDA/Phone/Desktop so that when an alert comes in you can press a button on the watch to have more information display on your PDA/Phone. For example, a news alert would have a "more" link that would bring up the full story on your PDA's web browser via GPRS. An email alert would bring up the entire message or an IM alert would launch the mobile IM and initiate a conversation with the person who contacted you.
Other options I'd like to see for MSN Direct transmissions would be location aware traffic conditions. If the FM transmittor can tell you're in Calgary, it should be able to tell where there are traffic problems.