Hi Noel,
My guess is that knowing you, you have already spent 10 hours doing
research on this decision and will come to your own conclusion based
on your own research and not based on others opinions...at least that
is what I do when it comes to most things soaring.

For what little it is worth I have a generation one SPOT and it works
flawlessly clipped to the front strap of my parachute just over the
center of my chest. It will go with me if I have to bail and it does
a good enough job seeing the sky even at a 45 degree reclined sitting
position to not lose signal. My spot traces have been reliable. If I
were purchasing new and didn't have one already I would be probably
buying the newer unit just because it is smaller and looks cool and
would get the grey unit so there is no orange canopy reflection (this
last reason is the biggest reason for going gen 2). That said, I
agree with what others have said on RAS that I would not buy a new one
to replace my current first generation. It is just good to hear you
are getting a SPOT unit - they really do have the potential for
improving safety.

Take care,
Bruno - B4