I just wanted to share with you the application that I've made for myself at first, but I thought that some of you may actually like it It's Poweramp Wear Controller, which allows you to control Poweramp from the smartwatch powered by Android Wear. You can also browse your music library easily. Application is optimized for round watches, with support for circular scrolling gesture (disabled by default, because I'm not sure if people will like it - you can enable it in settings).
Application is in *early* development phase - it has been created in less than a week, so be forgiving when you spot a problem and feel free to report it. I will also gladly listen to your suggestions and ideas to make it better.
Poweramp Wear Controller is FREE (there are no ads, too) and you can get it on Google Play: https://play.google.com/store/apps/details?id=com.pdyjak.powerampwear
Have in mind that you need to start application on mobile device once after installation and finish onboarding, otherwise smartwatch won't be able to connect with the player.