Definitely going to pick this up. Pro Q is probably one of the most useful plugins I've bought.
This is useful info, you can still open Pro Q 1 project files properly because Pro Q 2 is separate: (taken from
http://www.fabfilter.com/help/pro-q/support/upgrading )
Upgrading to Pro-Q 2
Upgrading from Pro-Q version 1 to the new Pro-Q 2 is safe and easy: installing Pro-Q 2 will not replace or delete the previous Pro-Q 1 plug-in. Both versions will co-exist and can both be used at the same time. This ensures that you can open old songs that use Pro-Q 1 without problems!
Pro-Q 1 presets
All presets created with Pro-Q 1 can be loaded in Pro-Q 2. If you upgraded from Pro-Q 1 to the new version, your original Pro-Q 1 presets will be accessible via the V1 Preset Folder item in the preset menu. See also Loading presets.
Note: Because the processing engine in Pro-Q 2 has been renewed and improved, it's possible that a Pro-Q 1 preset loaded into Pro-Q 2 sounds slightly different!
Replacing a Pro-Q 1 instance by Pro-Q 2
If you are working on a song and want to replace a Pro-Q 1 instance with the new Pro-Q 2, we advise you to do the following:
First, save the current setting of the Pro-Q 1 instance as a FabFilter preset in the Pro-Q 1 preset folder.
Then, remove the Pro-Q 1 instance and add Pro-Q 2 in its place.
Finally, load the V1 preset that you just created into Pro-Q 2 via the V1 Preset Folder submenu in the preset menu.
Automation
Because the feature set of Pro-Q 2 has changed fundamentally, any automation data that has been written by a Pro-Q 1 instance cannot be read correctly by Pro-Q 2.