I just purchased an EMC1 with 24/192 upgrade, an awesome sounding player, definately one of the very best. I agree that the MKII designation is confusing since there is no EMC1 MKII, only EMC1 with dealer or distributor upgrade to 24/192. However, I have heard that the EMC1 has gone through some design/manufacturing changes since it was originally released. Changes and/or improvements have been made and incorporated into production with the latest units out of the factory having the most recent updates. For example, if you look at older units, the power cord is in the center on the back of the player, and there's a main power switch above the IEC. On new units like mine, the power cord is on the left side of the back of the player, and there's no longer a main power switch on the back. It would be interesting to compare an original EMC1 with a current production (non-upgraded) EMC1 to se if there are sonic differences.
