I've been mulling this over since reading this announcement, and concluded I feel taken by PS.
I started vaping with a KR808D1, figuring it was an inexpensive way to get in to this and see if it would satisfy me. Once I found that answer, I searched and read for several weeks about a PV that would serve as my sole device: for my needs, the Protege seemed to fit the bill.
In reading the overview of V1.1, it seems that everything has been redesigned. Progress is a great thing. But the redesign covers flaws in V1: the endcap and threads, the switches, the adapter, the machine work, basically the entire device.
It seems those of us who bought Protege V1 were the beta testers, much like Prodigy V1 buyers were for that device. Then I made the mistake of buying the useless mechanical switch when it came out. While I am grateful to see improvements being made, I am miffed that I spent the coin on the Protege + mechanical switch to get a substandard device; and am forced to pay the price again to get one that works as it is supposed to.
And don't accuse me of looking for a freebie, I am not.
My conclusion is PS makes decent products and generally has good service. However, I want a device that is rock-solid reliable and not engineered on the fly. I have learned that my Protege is not this device, Protege V1.1 may be, but I'll never know. Since I need to spend the money to get what I want, my money is going elsewhere out of concern for reliability and resentment that I bought what the manufacturer knew was an underbaked device.