It's a "better" Phantom 1, now with longer flight time and better compatibility with gadgets
The Phantom 1 is a great drone, very easy to operate, excellent finishing and flies absolutely amazing, but with the stock 11.1V 2200mah battery, 9 minutes of flight time is just not enough.
On this Phantom 2, DJI has specifically increased the flight time from 9 minutes to stunning 25 minutes with the new designed 11.1V 5200mah battery cartridge, sound good?

The Phantom 2 is also enhanced on the extendibility, now it's much easier to install the Zenmuse H3-2D Gimbal, no more soldering and disassembling like you did on the Phantom 1, because the Phantom 2 is already built-in a key module of the H3-2D gimbal (Gimbal GCU), it has a Grey cable coming out from the drone, this is the Power and Gimbal Tilt Control cable, just plug it into the H3-2D gimbal and it will work right the way, clean and tidy.

There is also a CAN-BUS port on the landing skids, that means you can plug some other interesting gadgets to the Phantom 2 much more easier.

For those who like the Phantom 1, you should like it better on this brand new Phantom 2 - The good just got better!