I received both versions (Deluxe & Compact) for review.
Initial impressions -
The external hasn't really changed. It's white and glossy, still no spring loaded TF slot, and the case on that whole side isn't connected together properly, ostensibly to make it easier to remove the microSD. In fact, it never quite connects together properly unless you add a dab of superglue or whatenot. No coloured cases, and no more USB cable included either, but there's still the EZ SD Reader.
Compatibility results will obviously be addressed in the review, but GBA support is much, much better than the original. My first impressions are essentially that this is what should have been released the first time around!