[InXorWeTrust]

It's really a matter of personal preference. I haven't been able to find much on the Moto 360 (they seem to be keeping a bunch under wraps(I could be looking in the wrong places though)). But I assume it has a LCD screen. Which is potentially hell for battery life. The Pebble has around a 4-5 day battery life for me. This isn't constant text messages though.

Another thing you might want to keep in mind: Moto 360 will only work on Android. This isn't a negative for most people, except for those that might want to get an iPhone in the future. Pebble works with both (for the most part (from what I've heard, I have only actually experienced the Android side)).