Do you mean the new 9500? I have both and they each have different strengths.
The Good: It's smoother and looks less industrial. The new springs are black and the whole pedal has been streamlined and modernized, which makes for the best looking pedal on the market. The adjustments are all done with a drum key, so no more Allen wrench. The driveshaft is much heavier-duty and the beaters are a vast improvement over the old one. A great improvement is that the new hoop clamp is all rubber, so no more hoop-marring metal clamp. The new case is like the Eliminator case and the pedal doesn't fold up, which I like, but some others who like the portability of the old pedal will hate.
The Bad: It no longer comes with a drum key, which isn't a big deal, but for that much money you should get one. The beater, which is no longer round felt, is not self-aligning.
The Fatal: You can no longer convert it from a double into two singles. The old slave pedal came with a hoop clamp, so all you needed to do was switch the spring and beater from one side to the other and you'd have two singles. Although you can switch the spring to the slave pedal, the base is completely different. If you only want to use it as a double it's perfect, as it has spikes where the hoop clamp should be that will keep the pedal stationary on carpet. The beater assembly is also absent on the slave pedal.
The new pedal is the ultimate double pedal, as it comes with a stabilizer instead of a hoop clamp, but it can't convert to a single in 30 seconds like the old Flying Dragon. If you only want a double pedal it's a great choice, and IMO the best choice, but if you want to switch between a double and two singles like I do it's not the right pedal for you.