Stratcat, here's a link to a build and review of the V2. [link]http://www.trextuning.com/trex450sev2.php[/link]

The differences are listed at the bottom of the article, but it's also a good build article should you decide to buy one. I can't speak for the V1, but I just bought a V2 recently and I can tell you it is one top shelf heli.