By all accounts, the Galaxy Gear isn't doing spectacularly well. Samsung is still busy adding support for its smart watch to devices other than the Note 3, and the device itself is not without its foibles. Still, your choices are limited when it comes to smart watches, so you might as well save 20 bucks.
The Galaxy Gear has a 1.63-inch AMOLED screen with support for catching your Android notifications and telling you what's up (sometimes) without looking at the phone. It pairs with your phone over Bluetooth, but will only work with select Samsung phones, even after the company finishes rolling out the updates.
The Galaxy Gear is usually $300 at retail. That 30% off T-Mobile deal turned out to be a bust, so this is still the best deal for Samsung's wrist computer.