I'm thinking I'll be able to accept the poor battery life and purchase the 360 after all. However, I'm not sure as to how well it actually works as a smart watch.

I've currently got my Pebble sending through all of my Nexus 5's notifications. I've got this configured so that the notification text appears instantly on the watch, and then after 10 (or any number that I choose) seconds it automatically returns to the previous app or watchface, without dismissing the notification. Is this possible on Android Wear, or do I have to manually clear notifications from the screen?

I've also got my Pebble set up to not forward some notifications from my phone, depending on if they contain certain strings of text, e.g. data roaming prompts and screenshot notifications. Can this be done with Android Wear?

If not, is Android Wear similar to Pebble OS in that it would be possible to completely replace the manner in which notifications are handled using a third party app? Are there custom ROMs for Android Wear?