@daringfireball @gruber You said, "the updated model really just has a better camera."
You missed the best feature addition of the updated Studio Display. It has an extra Thunderbolt port that is downstream and can daisy-chain an additional display. With the previous model you had to connect each display directly into the computer or into a separate dock. This is a very welcome addition for anyone who uses more than one display.
According to Apple's website, you can daisy-chain up to four.