The original 510/Dura/Yeti batteries were great in their days, but things have really changed. The 510 atomizer is still a very popular choice, but many people have replaced their cig-like 510/Yeti batteries with larger capacity batteries that last longer and can sustain larger loads.
The 510/Dura/Yeti was dethroned from the top spot not longer after the release of the Janty/Joye eGo. The eGo still used 510 atomizers but it had 3-4x the capacity which meant you could vape all day on just one or two batteries. The increased capacity also meant it had a larger discharge rating allowing it to sustain larger loads. In other words, the eGo batteries could use lower resistance atomizers to increase the power output thereby increasing the amount of liquid vaporized in a period of time--more vapor production!
The eGo turned out to be very popular, especially when combined with the LR atomizers. It wasn't long before other companies were trying to capitalize on its success. One of the first was the Riva, which from the outside, appears to be almost identical to the eGo. The eGo and Riva sold well and were a great success. They are still one of the top recommendations for new users. Many other models exist that are very similar to the eGo/Riva design. They are usually referred to as "eGo-type" models. Some examples include the Go-Go, Leo, Echo, and E-Power. The differences between them vary from appearance, atomizer connection (proprietary, 510, 801, etc), capacity (mAh), voltage, and price. I guess what classifies them all as eGo-Type is mainly their size (marker/cigar size), capacity (usually between 650-1200 mAh), and the fact that you can't replace the battery (except with the E-Power). The eGo-type models are really a step up. They last longer and they hit harder when paired with LR atties/cartos (1.5-2.0 ohm).
But if you really want to get the most out of vaping you might want to spend some more money and get a mod. Mods are usually bigger and heavier than the eGo-types but they have their advantages. For one, they have a replaceable battery. The batteries in mods are usually higher capacity so they last longer. Some mods allow you to use different types of batteries to get different voltages (e.g., 3.7V, 5V, 6V, 7.4V). Some mods, like the ProVari and Darwin, have microchips that allow you to adjust the voltage in a wide range with small increments without having to change batteries. Some mods, like the Reo, have a juice feeder built that makes dripping into your atty a breeze.
The main advantage of the 510/Yeti batteries is also it's biggest disadvantage--its size. They are small, light, and easy to conceal. But that also means they are low capacity and not capable of delivering enough electric current to get a good power output. They're also only about 3.1V under load. Most mods, and even the current "eGo-Type" Riva, output at 3.7V or more.
So to answer your question, YES, there are definitely new products better than the 510. I own a 510, KR808-D, eGos, 5V PT, and ProVari. The original 510/Yeti battery is probably my least favorite out of all those! If you want something a step up go for a 3.7V, 1000+ mAh "eGo-type" battery or a true 3.7V mod with replaceable battery. I'd get one with a 510 connection since it is most popular connection type. The 510 connection is also compatible with 306 type atomizers. If you want the "bees knees" (like variable voltage or juice feeding) then you're going to have to pay for it. Some of the advanced mods cost over $150.
