As more reliable and durable MEMS will be available in the electronic market, these kind of wearable will be more feasible. Development, availability and interfacability of MEMS plays a major role in smartphone coupled wearable devices.
These applications are showing that the ideas are now coming to reality and it is good to see that they are not just fashion gadgets, but they are addressing the real needs in the area of healthcare.
I would rank the glove with the optical text reader as the top one as it has a wider scope in terms of helping the visually challenged people, the illiterate ones and those interested in learning foreign languages.
On the subject of actual wearable electronics, like clothing or shoes, I again think economic practicality will rule. Besides the fact that these items will cost more than the usual non-electronic types, there is also the issue of can I use them outdoors on unpleasant weather days (lot of rain or snow or just very cold)? I have to take off my coat or clean my shoes indoors to check?