http://www.youtube.com/watch?v=zYTmFlD0xZo

I thought the exact same thing when I saw the post on the main blog. I plan on getting several of these very, very soon.

The FlexTT5's aren't that great. I bought a set and they are rather flimsy. I sold mine and I ordered two PW III's for less money.

I noticed these as well. They appear to be better, with double the channels (32), and four separate zone buttons on the front. I was planning on picking up some of the plus ii's for studio lighting anyway, so the fact that these just came out and are cheaper is perfect timing. There is a nice video on the pocket wizard website that walks through the features.

Update: My main use would be studio lighting, but I think if you were going to be doing a lot of off camera flash with speedlights like sb-700's or something, then I would still go with the FlexTT5, since it has the hot shoe and TTL.

Am I missing something or did pocket wizard release something that is better than previous versions fro about $50-100 cheaper?

I do not use these yet but I have been needing to pick a couple up - just curious what the new thing ads or if the older models actually contain more.