The speakers are doing great. The only problem is ... I'm so busy at work right now (finishing each day at 23:00 or so, Sunday including) I do not have the time to listen, or to write much for that matter.
The direct comparo is a bit tricky, as I have sold S5 mk1 in December, and only got the mk2s 7 months later. So bearing in mind that aural memory can be tricky, I think that the S5 mk2 do sound better then the original mk1, at least in two very imortant areas:
1. Soundstaging. That was my only complain when I had switched from Wilson Sasha mk1 to Magico S5 mk1. The S5 mk1 were not really able to dissappear as easily as the Wilsons. The soundstage was never as deep and as layered as with the Sashas (or my Avalon Eidolon Vision). The mk2s is are much better than the mk1s in that regard. The soundstage is wide, deep, layered and 3D. The only two speakers that sounded better in that regard in my listening room were the Vivids K-1 and Magicos S1 mk2, which just disappeared completely (it may have something to do with the size of the speakers, in relation to the size of my listening room, which is only 14 feet by 19 feet - the S5 look quite imposing compared to the dimunitive S1s taking much more physical space).
2. Microdynamics. I feel the mk2s are more alive sounding than the S5 mk1, making the music much more engaging to listen to. Again - not quite the Vivid's level, but close enough (and without other problems that Vivids have).
I haven't heard much of a difference in the bass and HF. If there is a difference between the two, then it is smaller than in the two aspects I've mentioned and a more direct comparo would be in order.
All in all - money well spent. The speaker looks much nicer and sounds better in two aspects that are important to me.