The initial implementation of the Analog Watch Face with new wear libraries provides most of the functionality that the original watch face had.
What's missing are mostly Samsung complication features. If you need them, the current option is to buy apps from amoledwatchfaces™.
Later on, I will implement a free and open-source app with the same functionalities.
Another thing that won't be working initially is changing the watch face from the phone app. This will come in the next version.