Because I was waiting for the long-promised migration tool before setting it up, I have an unopened V2 hub sitting in my basement. Since it’s apparent that the migration tool is vaporware, I need to decide whether to manually migrate to the new hub. I have the usual problems with ST. These include missing notifications, failed mode and location changes, lights incorrectly going on or off, sensors suddenly incorrectly reporting status, etc. These problems, while frustrating, don’t occur that often and/or are mysteriously resolved. That said, I’m curious to hear if anyone can share any compelling reasons to go through the work to manually migrate to the new hub. I’m particularly interested in any significant increase in reliability or the introduction of must-have functionality. Or, probably more importantly, a loss of current features or functionality. Thanks for any thoughts you can share. - Mark
How many devices do you have now in v1? That is going to dictate whether it’s worth it to migrate. I have over 75, so for me, it’s a no go. The benefits for a v2 hub simply never materialized.
The V2 appears to be slightly less reliable because of the difficulties in synching local operations with the cloud. This doesn’t affect all customers all the time, but it can occur, and it would be a difference in V2 since there is no local operation in V1.
If you have an older V1 that had a Z wave classic chip instead of Z wave plus, you would definitely get improvements with V2. in particular, longer-range, better pairing in place, and possibly somewhat better handling of devices that use secure messaging.
In addition, V2 offers some new features, most significantly video handling for smart home monitor.
Other than that I don’t think there’s a lot of difference at the present time.
So do I.
My voracious reading of Forum seems to indicate more problems than benefits with V2, but that’s probably because there are a lot more V2s in use.
Well, while it’s is limited, there is the local control. If you have the eligible devices you can run local, and the vast majority of the problem aren’t affecting local automations.
I upgraded from my V1 to V2 a couple of months ago. I can honestly say I regret doing it. So many issues with the V2 hub, things are MUCH slower, constantly needs to be rebooted. The ‘local’ processing is a total joke, it takes so long to ‘timeout’ when trying to contact the cloud before switching over to local processing that lights have a huge delay (30+ seconds). Not to mention that rebooting the hub itself takes several minutes to come back online as compared to the V1 which is almost instantaneous.
Thanks for everyone’s input. It looks like I’ll pass on moving to the new hub. It’s pretty sad that a much touted upgrade was actually a step back in reliability and performance.
I am posting so there is at least one positive voice in here.
I have had only positive experiences with my V2 hub.
I had a V1 hub and migrated to the V2 hub.
I have 79 devices.
I have 25 automations listed in smart lighting.
I have 13 smart apps listed in the developer portal.
I have 10 custom device handlers listed in the device handler section of the developer portal.
I have 2 core pistons to control a new Garden spot I just purchased.
The V2 hub has better range then the V1, and local processing is flawless for me.
I have NOT had any of the issues mentioned above with “sync’ing local operations”
Delays for automation triggers under the V1 hub was excessive and caused me to research other solutions including implementing direct control from Enerwave Ceiling Motion sensors to avoid the delays caused by the V1 smartthings hub.
With the V2 hub and local processing these triggers are instant.
When running under the V1 hub I installed and setup direct control from Enerwave ceiling motion sensors to directly control lights and avoid any delays caused by the V1 smartthings hub.
For example, opening the door to the basement, I want lights to go on instantly so I am not walking down a pitch black staircase. If there is any delay, than the automation is useless as I might as well turn on the switch myself.
Once I migrated to the V2 hub I no longer needed the enerwave celing motion sensors to directly control the lights as the control from smartthings was/is instant.
I have 13 smart apps installed and in use through the developer portal. This includes notification when my washing machine completes.
Using a smartthings smart plug, notifications for completed washing machine cycle works every time.
When the house loses power, I get a notification from my smartthings triggered from my MIMOLITE device.
When my three year old daughter wakes up in the middle of the night and walks into the hallway, the light goes on at 20%.
When the garage door opens, the garage lights go on, and then go off after 10 minutes.
When the interior garage door opens, the garage lights go on, and stay on until manually turned off so one is not left in a dark garage.
I have a next gen iris smart button on the wall next to one of the garage doors to open and close the garage door. There is a door bell switch for the garage door on the other wall, but that is not reachable as one leaves the garage, and if I am not in the car, lets say riding a bicycle, I do not have the remote.
In an office I did not want to spend the time and effort to wire another wall switch to create a 3way scenario so I use a minimote stuck to the wall.
On my side, v1 here, I’ve not see any of those delays. Nothing that I’d call extraordinary. Like most of my motion sensors see me within one step of entering a room. I do have one, aeon g5 that sucks. But the ST and Iris sensors are fast enough for my use. Sub millisecond, no, but honestly even old school hard wired motion sensors my dad has are slower than these.
Ive not see any reason to upgrade to v2. I’ve had been stable since figuring out the cree bulb bug. After that bug I’ve had like 0 issues that werent cloud related. To my point I dont think theres a compelling reason to go from v1 to v2. None of the differences listed have come about. No real local processing in mass. No bluetooth. No cellular option or out of band networking.
But… there are others that have 0 problems with their v2. I still dont see any reason to buy v2. So come on v3 
AFAIK local processing only kicks in if your internet connection is down and unable to reach SmartThing’s “cloud”.
My understanding of this functionality.
If the device type is built-in and some other criteria, and therefore “CAN RUN LOCAL” and the automation can be run local, (only smart lighting smart app), then it will run local.
Locally running smart apps can be viewed here
https://graph.api.smartthings.com/localInstalledSmartApp/list
Devices that are eligible to run locally:
https://graph.api.smartthings.com/localDevice/list
On the issue of automations when internet is lost, I never thought about this scenario.
I might try this tonight.
What is the expected behavior?
Are you stating that there is a one time 30 seconds delay for automations if the automation just happens to trigger right as internet is lost, OR
once internet is lost, every automation is delayed 30 second?
So are you stating that the smartthings hub takes 30 seconds to detect lose of internet?
I have no idea how long it should take, but I might try it tonight.
The FAQ can be read that way, but I think that local processing does NOT wait for an internet outage
Different SmartThings accounts need to look at different links in order to see what is running locally. If you go to one which is not for your account, you will see a blank list, which can be confusing.
The community-created wiki keeps the up to date list of all the possible links so it’s good to check there. 
Thanks!
Can you also weigh in on how local processing works.
If it is working, does it always work? Or only when there is no internet connection for the smartthings hub?
Honestly, I don’t know for sure. I was under the impression that code that is eligible to run locally always runs locally, but I don’t know if that’s correct.
@jody.albritton should know.
I did one test and local processing seems to work in the normal case, when there is internet.
When there is NO internet, bad things happen.
I just did a quick test and local processing does NOT work or is VERY buggy once the smart things hub realizes there is no internet.
BUT, it was not the actual Internet connection that mattered.
I turned off my router and local processing seemed to work for another 20 seconds or so until the smart things hub realized the Internet was out.
This means that normally local processing works, otherwise automations would have started to fail as soon as I pull the network plug and not later once it realizes the Internet is out.
Also I did not wait that long; it is possible that if without Internet, after a delay of a few minutes, as some point the smart things hub realizes there is an internet outage and recovers; but I did not wait that long.