Well, we had a little discussion on its predecessor, before the II. That mic was the exact same mic as the Apex 460, Nady TCM-1150, and Carvin CTM100, all of which can be had for less than half the price.
Telefunken has since redone the circuit and now we have the mark II version. No word on what they've changed but I'm sure the capsule is still the same. The capsule and grill provide most of the characteristics of the sound, so I don't imagine it sounds too different from the original. They may have a better transformer, which might help the phase problems it had before the redesign.
If you get more updated info, let us know.