Hello Rudegar and thank you for your reply. The problem I'm experiencing seems to be familiar within the "mac forum" community as I've read several threads that detail bluetooth connection issues with the ios 6. One caveat that I failed to disclose is that I use the iCloud service as well as Home Share. I don't know if enabling these features has somehow conflicted with my iPhone 5 and the Motorola headset to connect via bluetooth or what. Also, before I purchased my iPhone 5, I had an iPhone 4 but did not upgrade to ios 6, never had an issue pairing the 4 with my Motorola headphones.
Based on recent mac forums detailing connectivity issues in pairing iphone 5 (ios 6) with bluetooth enabled devices, would it be fair to conclude that this might be an apple issue due for an update? Thanks Rudegar!