The Galaxy Gear hasn't been what you'd call a successful product for Samsung, reportedly selling only around 50,000 units worldwide since its launch, but that hasn't stopped the development community from working on the device to make it better, and now the first proper custom ROM has appeared for Samsung's smartwatch.
Called Null, the ROM is rooted and offers a stock Android experience. It features Nova Launcher as the home launcher app, and comes with 60-second video recording, live wallpaper support, Bluetooth tethering, a native email client, a full-featured browser to view web pages, option to install third-party apps using an app's APK file, and more. As it's a stock Android ROM, it probably won't work with a Galaxy Note 3/other compatible devices the way it usually does, but that probably won't be an issue for those that try out custom ROMs on their Galaxy Gear.
Hit the source link for more details on the ROM, and for instructions on how you can flash it on your Galaxy Gear.