I have had mine for about 11 months now. I think it is V1 or V2 however. It works great. Maybe too good in the winter. I have to empty it about every 3-400 miles in the winter. It is 95% water, but still fills up really quick. I am not complaining, because that is moisture that is not going into the intake manifold. During the summer, I can go several thousand miles between emptying it as it collects mostly oil and sludge in the summer. I am thinking that down in Arkansas, you won't experience the moisture problem nearly as much as we do up here in Wisconsin.
For the money, I think it is a a great buy.