The original audio specs are what I personally tested on the pre-production units verified on the first units off the line (using a AP2700 series Audio Precision analyzer). I'm not saying that all units for sure met these specs but I am saying that there was certainly no fraud. As for the whole 48 volt thing the intent at the time was to make it produce 48 volts but late in the design we found that we couldn't do it as not jeopardize the reliability of the unit (it would have done 48 volts but we weren't sure how long it would last) so we reduced the voltage to give us some breathing room instead of running components right at the edges of their specs. At this point we changed all marketing materials that had been made that said 48 volts. This was well before anything had shipped.
I can't really say too much about the MTII. I did work on testing the early alpha versions of the unit before the site I was located at was closed and I do think it will be an improvement over the MT 1.
P.S. While I was there I tried several times to suggest they make a dedicated SPDIF to CF bit bucket (no analog) but they just wouldn't go for it. I'd email them to let them know if you'd buy one.
John