The V1 HT batman had a suit designed to be much more like what the films suit was supposed to be as far as construction. It was a body suit with rubber armor layered over it. The films suit was supposed to be a neoprene wetsuit with the foam rubber armor panels layered on, hot toys tried to mimic this, but in smaller scales, layers become the enemy of realism, so it created a suit that was maybe constructed more accurate but looked alot thicker and bulkier. IT also inhibited alot of his movement, the pic above i did to show he could do some extreme poses but it was not easy and risked tearing the armor from the undersuit.
The v1 also had a much bigger cape, size of a small camping tent
that was double layered, but a bit thick and it didnt always lay very well, because its thickness made it a bit stiff. Other than that he had the same belt, but it doesn't have the clip on the back for the grapnel gun.
The v2 uses a two piece rubber suit, for accurate look and scale, and much improved poseability, along with softer rubber boots he has a great range of motion all over, and he has the new headsculpt, new hand sculpts, new gauntlets, and a new cape. The belt is pretty much identical but iwth the new clip on the back for the gun.
I always liked the V1 when i had it, i chose it over the takara because i felt it was more accurate despite its problems and could be made to look good even with them for example here's some pics of the v1 i did:
Originally i intended to stick with the v1 and just get the new suit bats and joker, but once the new v2 came out i saw more pics and just got floored, and had to have it, and was very pleased when i got it, i ended up just breaking my v1 down to parts for some other projects, but it was a good figure.
If your going to get one though it should be the v2, its hands down the best begins batman there is.