I just got, and setup the newest DVR from Buckeye. the biggest change is the fact that it has a HDMI output. I have also noticed (maybe my imagination?) a slight improvement in Analog channels. Menu's are a little faster.
I mostly got the new box because my DVI output failed on my Phase I box. But I also wanted the latest and greatest. My TV has DVI input, so I am using a Monster Cable HDMI to DVI converter, and it works great.
Now, there are supposedly some issues with audio output from the Coax and Optical outputs when using HDMI. I am NOT having any issues, but I am also using the converter, so my TV is not actually using any HDMI "handshaking" in regards to audio. Apparently Dolby Digital is not being output from those digital outputs in certain cases. Rumour has it that there is a firmware fix that fixes this.
Those issues are being discussed here:http://www.avsforum.com/avs-vb/showt...2&page=1&pp=30
The only audio difference I notice is that I no longer get DD when watching analog channels, my stereo picks it up as analog stereo. DD works fine when watching any digital channels, including HD.
UPDATE: I now get no Dolby Digital using the HDMI in certain scenarios. See the link above for more details. So if getting Dolby Digital is important to you right now, don't get the new box, however I am sure that this will get fixed soon.