I think the newere ones just have the analog inputs. But the software and parts aren't modern, so you are getting older technology. I just fried my Gen II and for $99.60 I am getting the latest software and harware available for the aeroforce gauge, 60% of original price!
I've had my 1st-gen since before they came out, and its been awesome. It reads all the parameters, reads/clears codes, and does some recording. No analog inputs, no "horsepower" or fuel ecnomy reading, no indicator lights.