My Z Ultra is 4.3(14.2.A.0.290) and lucky that I can successfully connected with it. I followed instructions from below link to get Gear Manager with Samsung Apps installed on my phone.
Below are my findings for those who are interested.
1. Phone Answering/Calling/AddressBook/Talking to the watch on my wrist is amazing.
2. Recorded Videos/Photos copied automatically to phone after recording.
3. Screen automatically turn on when you raised your hand to see clock.
4. Music can play from it's built-in Speaker.
Still needed functions.
1. No Call History.
2. Can't see the songs from Z Ultra. Have to copy songs.
Have to still find out about emails, sms and other notifications.