I got on the phone with their "live support" when I was about to purchase and he explained to me the history behind it. All their new ones are second gen.
www.watchseller.com is selling a 1st gen one (black/red bezel) for $395, much cheaper than the one I got for $525. However, I wanted to have the GMT hand to be independently adjustable as opposed to it being adjusted only when the hour hand is changed.