There are some very good upgrades that come with the MK III, but they are not significant enough for me to make the switch.
Probably the most significant from my perspective is the ability to save different zeros for different loads or rifles. I fond that feature handy on my Pulsar HD 50S. There is also a range finder feature that would be useful given how difficult it is to estimate range through a thermal, but it is based on a man's height. A man's height is going to be within a range that can get the estimate close, but that isn't true with hogs, and gauging hog size is difficult.
I don't recall offhand the other changes, but they didn't add up to enough to make me want to switch. Going with the REAP-IR, which has the MK III upgrades is something I would like to do, better lens, smaller, lighter package, useable as a spotter... But I can't justify the expense at the moment.
So, to me, it seems the choice is really MK II or REAP-IR if ~2.5x is the right native magnification for you. I think its about perfect for me.
JPK