It was a little difficult but I have a brand new Pebble Time again. And surprisingly it is not a refurbished unit. The steps to gain a warranty replacement was more than usual. I suspect that Pebble is trying to avoid being taken advantage of by less trustworthy folks.
The best part is that while my original Pebble was embossed with “Kickstarter Backer” on the back, I had little hope that the replacement had this unique feature, long after the original Kickstarter campaign. I was pleasantly surprised to find my replacement featured the same bragging right as my defective unit. Thanks Pebble.