One of Apple's goals with building their own chips is getting a lower TPD for devices. I can't imagine they'd field a cellular chip that drew more power than Qualcomm's. It's always possible though.
If that turns out to be the case, the iPad has the largest battery and can absorb more of a regression than any of their other devices. But there's enough of those sold to get some progress toward a tighter solution
I’m sure you’re right on the goals. What we can only speculate about are their thresholds for shipping v1: it wouldn’t surprise me if, for example, they would opt for a design which used less power but wasn’t as fast for the watch where bandwidth is less critical. As a buyer, I’d be more than willing to take a hit on peak performance if the design used less power or more gracefully handled poor coverage.