Griot's did remove the professional name from the label (as noted), likely to make the machine more accessible to the novice consumer. I remember this sparked a whole thread of controversy and conspiracy theories, but as in most cases, the simplest answer was also the accurate one. They simply changed the name.
The difference between the Gen2 and the new Gen3 models is mostly in the ergonomic design, from my understanding. That makes the Gen2 (marked down) with the lifetime warranty an excellent deal, IMO.