No I bought the V2 new. I have never heard the V1.
I can tell you that the prices of a used V1 are falling (see currently listing here on Agon) so now is the time to buy one if your in the market. There is a thread on the AVS forum with a few people that have upgraded to the V2 and all have say it was a measurable difference in sonics. In my experience with the Gen VIII v2 I feel it is one of the best Dacs/preamps on the market today. If you call around to the Theta dealers most will give a you decent discount seeing the current state of our economy. Not to many people walking into their store plunking down 11k for electronics equipment. Or just buy one off of Agon and get it upgraded down the road. Your still ending up with a very highend DAC or a straight 2 channel preamp. I use it mainly for vinyl.
I can tell you that the prices of a used V1 are falling (see currently listing here on Agon) so now is the time to buy one if your in the market. There is a thread on the AVS forum with a few people that have upgraded to the V2 and all have say it was a measurable difference in sonics. In my experience with the Gen VIII v2 I feel it is one of the best Dacs/preamps on the market today. If you call around to the Theta dealers most will give a you decent discount seeing the current state of our economy. Not to many people walking into their store plunking down 11k for electronics equipment. Or just buy one off of Agon and get it upgraded down the road. Your still ending up with a very highend DAC or a straight 2 channel preamp. I use it mainly for vinyl.