Way late to this dance, I realize, but just for anyone else who may have gone down this route:Since so many have had luck with this product, I’m going to give it a fair shake. I am returning the 4.0 and I ordered a 3.0 from Carlinkit direct. They have a good deal right now. $75 shipped with the discount code. It’s worth a shot. If I don’t like this one I will return the wired way.
When my CarLinkit wireless CP thing has issues connecting (and rebooting, restarting it, or the MIB itself won't fix it), I've discovered it's typically because my iPhone has decided to connect to the MIB's bluetooth connection...and won't let go.
Go into BT settings on the phone, tap your car's BT connection (I've renamed mine to "Sportwagen"; can't remember what the default name is) and then DISCONNECT. You can go all the way and FORGET THIS DEVICE, too.
Once I do that, the CP via the Carlinkit typically re-asserts itself; at worst a unplug/replug of the Carlinkit gets it going again.