Yes.. but the beauty of the V1 is how good it has been for HOW LONG.. Mine is 12 years old.. been through 3 software updates and is as good or better than any detector out there. That's some value!
The Savvy differs from just a GPS chip.. it relies on the car to tell it EXACTLY how fast you are going, and offers several ways to auto mute based on speed settings, etc. Very useful addition.. my only gripe is that it hangs a little low and I bump it with my big left foot from time to time.