Default [Q] Can't get Gear Live to connect / stay connected

So I've got a new Samsung Gear Live from the Play Store. I'm attempting to pair the device to a Nexus 5 running stock 4.4.4.

When I turn on the Gear Live I'm prompted with selecting a language. I choose English US. Then i'm taken to the "Install Android Wear on your phone" Screen

At first this screen would show me the text "Gear Live 4AFV" (or something along those lines). However 9/10 (after rebooting or resetting the watch) it will simply show me "Gear Live" no 4 digit name.

Without the 4 digits showing the phone will not detect the bluetooth device to connect. On the off chance that it does show up and the phone is able to detect the watch, the pairing process can either work, or stall leaving both devices sitting at a "wait a moment while pairing" screen that never ends.

Lastly, if everything works and i'm able to pair the watch and phone. it will randomly disconnect and nothing I do will make it reconnect to one another.

Other things to note. Bluetooth has no issues on my phone with any other device.
I've reset the watch numerous times,
I've uninstalled the Android Wear app as well as any other watchfaces or launchers.
I've factory reset the phone.

Suffice it to say i'm almost certain there is a problem with the watch, the question is has anyone else experience this or anything similar with a Reset hasn't fixed the problem and is there possibly a solution to this problem that isn't a replacement.

Google has offered to replace the watch but I want to ensure I"m not missing something here.

thanks for any assistance in advance.
Nexus 5 - Rogers Wireless