While I can't give a comprehensive review just yet I can at least give me 2 cents.
I've never used the V1 so I can't compare them.
I did mess around with different settings, but I basically dialed in what I was looking for and left it at that.
I'm the type of player that varies my technique a lot to get different sounds.
So...I was looking for a dynamic OD that works very well with different playing techniques and string attack. Kinda like a cranked tube amp.
Play soft and you barely know it's there, play hard and it breaks up nicely.
This thing does that perfectly IMO. It's didn't add or subtract anything from my "base" tone, it just added a light OD when I dug in.
I usually play with active basses with some boost happening. For what I was looking for out of the Barbershop I didn't like the sound I was getting from EQing directly on my bass. It basically sounded like turning the tone knob down and lost all cut, turning into a bassy mess (since I had some bass boost). It was a cool sound, just not for me. To get around this I simply went flat with my onboard EQ to hit the Barbershop and compensated by boosting the bass on my amp instead. Bada Bing! Exactly what I was looking for. I had my ShuttleMAX which just made this easier. I had one channel set for my standard tone and the other channel set to use with the Barbershop.
It's also capable of getting a more driven type of sound out of it as well so it's not only a light OD. I didn't mess with it all that much as I have other pedals to do that for me. I have it stacked with a Fulltone Bass Drive Mosfet right now. Barbershop > Bass Drive. They play well together with similar flavors. So I essentially have multiple OD combinations at the stomp of my foot. Very cool. Here's a pic (signal chain Octamizer > Barbershop > Filter Twin > Bass Drive > Chorus Ensemble). Sorry it's sideways. I've tried at least 10 times to get it normal, but it's not working.