OK, subsequent to further analysis, these are my findings:
1. Scoped the clock and data waveforms, and everything looks good. Good/Clean waveforms with about a 100ns rise time and considerably faster fall time (makes sense with an open collector/pull-up resistor arrangement). 10us pulse width (or clock speed of 100kHz). It appears there is ample margin for greater speed given how clean the waveform is.
2. Experimented with disconnecting clock/data lines during communications. A disconnect on transmit causes the software to crash (no exception raised, it just locks up and you have to terminate the program and restart it to regain control. A disconnect on continuous receive did not crash the system, however a data value of 0 is returned which, without additional flags or raised exception to let you know the data is invalid or communications is lost, is not acceptable. It is nonsense data.
As an example of the sort of information I am looking for, see the attached screenshots. This is a random example from a PIC micro-controller (I2C registers) that clearly detail the type of information you need for successful I2C communications. Simply sending and receiving data bits successfully without the additional "handshaking" is nowhere near sufficient when designing a proper application (though I bet a good deal of this sort of "tinkerer" code makes its way into everyday applications/hardware).
Sorry if I sound as if I'm venting a bit, I really do appreciate the help I have had from the guys here. It's simply so frustrating when I find I have to consistently work with a lack of sufficient documentation or a clear way forward. At least from a serial communications perspective, it appears to me that BaseUnix is only fit for hobbyists or workbench experiments. I would certainly not deploy an application to 3rd parties without the appropriate protective measures in place that are required for reliable serial communications (whether it's I2C or any other protocol). Maybe the thin BaseUnix interface to the kernel provides the flags/signals that I require, but if it does they are not documented anywhere. On the other hand, perhaps the fault lies with the kernel itself, and it's not picking up said flags/signals from the Broadcom device, but who's to know. The only part I am certain of is that the Broadcom I2C hardware interface will definitely have all these flag/status options available as is typical across manufacturers who comply with the I2C standard.
Rant complete, it's back to the drawing board for me and my Raspberry Pi project. Thanks again to those that provided assistance here.