Thanks for the detailed reply. this is quiet spot on.
We went to a professional trainer to seek more advise, and the advise was more or less the same as the replies i have gotten here.
So far, Bailey is 14 weeks old, I am able to loose leash walk with him for 15 minutes around the block. no pulling, or losing attention, I can stop, change direction or give him commands without any problems, so we are very proud of the progress.
Albeit this is during morning/quiet hours with not many distractions, his behaviors when other dogs are around is another topic which I will post a question again separately.
Thanks again for the response.