I actually have both an old cast iron son of hibachi and the new version. The new version does seem cheaper with its stamped steel design. The grates are the same cast iron product…. the new grates will work with an old hibachi. I dont have the old snuff out pouch, but the new one works just fine and is made of nomex. I even have the silly rotisserie… it doesnt work well by itself, but if you use two 13 by 9 cake pans in a tent over it… it works aces…. Ive made gyros multiple times using alton browns recipe and a couple chickens.  A 13X9 cake pan makes a great lid for regular grilling… I mostly use the new one, because it is in somewhat better condition being 30 years newer… I dont notice much of a performance difference between the two…. they both get ripping hot. A 13X9 cake pan makes a great lid.