I believe I have the previous version, but I believe my review is still valid with this newer version. First of all, the bladder itself is bomber. No leaks, takes a beating, and the lid closes reassuringly tight. There are a few flaws; the black plastic that makes up the handle & hook mechanism is pretty weak. At below freezing temperatures, my hook snapped off while attempting to attach to my backpack's hydration sleeve hook (the one designed for that purpose). In addition, the plastic connector between the lid and the handle (to hold the lid when open) broke after far fewer uses than I would have predicted. It feels similar to the one on my Nalgene bottles, but those last through years of hanging, throwing, and abuse. The one on the reservoir literally does nothing except hold the lid. It shouldn't break at all.
The bladder itself is phenomenal though. Still receives four stars; just treat the handle area gently.