There is little information around to distinguish the differences between the early and new versions of this mighty cool sea kayak so when I had the chance to show the two side by side - this video is the result.
Pros for the older version:
The rudder is not cleated down so if it hits weed or a rock, it will come up on the spring, whereas the newer version is more likely to catch weed or be damaged by rocks.
I also favour the larger rear hatch on the earlier version as the flat deck of the V limits the storage, the bulkhead separating the day hatch further limits this space though I imagine it also increases rigidity in the later version.
Pros for the new version:
The bigger rudder blade definitely helps steerage with a strong cross wind as the rear rocker leaves the stern high and dry even in calm conditions.
The rudder pedals are definitely better positioned for toe control.
If you see a used V1 Valkyrie for a good price - don't be discouraged. The differences are not enormous and as above, there are positives offered on the V1 over the V2.