Awhile back, we had gotten the V1 just before the V2 came out. So in a way, thankfully we got to try both versions.
For the similarities, the V1 and V2 are the same drive circuit (obviously), have the same gain structure, and clipping options. The differences are the V2 now has a 3 band EQ was added for better flexibility over the single tone knob and it now features a soft switch over the V1. We have example of all this in our video.
I personally like to run mine with the clipping switch in the Silicon setting, Gain set at noon, volume just a little more than unity, Bass at noon, Mid between 1 and 2, and treble down to around 11 or 10. Just enough to take some of the high end off before I touch the guitars tone knob.
So if you’re looking for a new low gain drive for any reason, I feel like I could almost suggest this solely based on the added EQ section. Not to mention it just sounds good. You might not think you needed EQ until you have it!