Mine is actually a generation 3.5 if you want, Lukasz already did a lot of small modifications when I shipped it back to him to install the Jensen caps and true balanced operation in May 2012. Lukasz started to build the Gen 4 in February 2012.
I know there's a Gen4 L3 on sale now, and I can't honestly tell you which one will sound better. I just know that the Jensen caps made a huge difference, mine is 230V and has USB and AES/EBU in and true balanced operation (I used it with the Blue Circle AG3000 and AG8000). Ready to discuss the price.