Yes, you could call it a reformulation, but the product went through some pretty drastic changes in light. It's not V5, it's UNO Advanced Cut. And that's how it is different....It cuts alot more then any other UNO versions. UNO was created to be 1 product that would be able to cut, polish and finish down. This is a difficult task to do on all paint scenarios at times depending on climate, paint type and or course user. Many gave input that it needed more cut. Some mentioned it didn't finish as good as it could. What Mel did was instead of focusing on 1 product that can do everything, he incorporated 2 very different ones. He also updated the pad format and also the workflow for product/pad priming to one that he felt would be a winning comradery for the entire line. So what you now get is a product that cuts much better and another that finishing better too. Oh, and still with no dust. I think you're going to like it.