As far as I know, the only difference is that Cary adjusted the gain in the mk II version so that preamps with lower gain levels would work with the amp. If you have a preamp with high enough gain, 15 dB or more, you are probably better off with the original 120s, as the 120s mk II may have too much gain for you, and limit the amount of control you have with the volume knob.
I would give Cary technical service a call and ask them for more details.
I would give Cary technical service a call and ask them for more details.