Here is my findings. The Whale was the very first version and did not contain platinum which BMI feels is a very important neutralizing agent. It also had more copper and less silver.
The Whale Elite has the platinum and the ratio of copper to silver was changed giving a little more silver and a little less copper. This makes it a bit more dynamic I believe.
The Whale Elite MK II has yet again finely tuned the ratios of copper, silver, and platinum to make it a bit faster.
This is what I got from conversations w/ BMI. Different people actually prefer different versions of these cables. I have both the original Whale and the Whale Elite. I prefer the origianl Whale on my DAC when I use a Whale there. Smoother in the vocal area IMS anyway. Of course every system is different and YMMV greatly. Actually, I think the Whale and the Eel synergize nicely together. I had very good success w/ the Whale on the DAC and the Eel on the Melos pre amp. I actually preferred that over two whales as the bass got boomy w/ two of them IMS. Plus that freed up the other Whale for my Bel Canto DAC that is on the "B" system in the basement.
The very best power cord I have heard on amps though is the EPS-2 ribbon power cord being made by David Elrod, formerly w/ Elecra-Glide. This thing is so incredibly transparent and open that I am hearing things I never heard before on some favorite recordings. I have some good cables here too including a couple Shunyata Cobras and Black Mamba as well as the Whales, Eel & some Mikro Omega w/ Active Shielding.