I have the 2011. Got it for Christmas and haven’t had it on the river yet, but it looks *very* promising for when you don’t need to haul the full catastrophe.
The new model is gray, with a subdued blue panel on the front of the small outside pocket. Layout-wise, it has the small pocket (on the outside of the main compartment) which is about 9 x 5 x 2. It’s a single compartment and contains a foam fly patch. The large compartment has a set of interior pockets along one side that will work for tippet, spare leader, etc. There is also a little “holster” and some securing points on the front of the strap for hemostat, zinger, etc. You don’t have to turn the thing around to access those tools.
My biggest problem with all the smaller solutions is that you have to decide not to carry a rain jacket, lunch or water bottle.