I've used the first generation Amplugs for a long time, and I've been happy with them. Ok, the weak plastic build quality is a slight turnoff, but I think the price properly reflects this.
The new version has lots of new features, of which the turning plug is the biggest improbement. It now fits in a smaller pocket, and the plug seems better protected during transportation. (Of course, this could turn out to be a structural weak point, but time will tell.)
It's quite hissing with the higher gain settings, but the lower settings is enough for a clean sound on a passive bass. This is a practice amp, but without the hiss, it could be used for recording, as it sounds great otherwise.
The integrated drum tracks is a fun addition that might be of use for someone. I don't use them myself, but I can't understand why they didn't include a simple click as one of the tracks. I'd have more use for that than all the other tracks together.