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LoginAbove is the breakdown of the versions. I should point out that I have programmed this one with the latest firmware. Personally I don't see radical differences especially in use. I think the main difference is one dmx out. This means you can't run another dmx when running it wireless. I run both v4 and v5 LEs in my show with a v1 dongle.
Beauty of this one is it's assembled programmed and tested. If you are unsure you could successfully assemble one then this is the way to go.
Willing to throw in a v2 dongle pcb so a beginner could get started right away.