After a FDR the bluetooth still has an occasional hiccup but much less than with KitKat. The 2-3 second pauses are gone.I'm also very interested to know if the FDR solves the Bluetooth hiccups for you, I have the same issue, but haven't tried an FDR yet.
Also after performing the FDR some Lollipop menus look different than they did after updating. I know that sounds crazy. Smart Lock wouldn't work for me after the update but last night when my phone paired to my truck the Smart Lock menu automatically appeared on screen. Battery life is incredible now. After a major update like that I'd recommend everyone to perform a reset.