Hi James, the API v2 launch blog post has details on some of the improvements and new functionality that API v2 offers:
Hope this helps!
The addition of improvements and new functionality and a new API is fine, but it is not of itself a justification for removing a previous API. You should not force developers to completely change their stable and tested code, risking introduction of bugs, if they don't need the new features.
The publication of an API is a commitment to preserve it in perpetuity unless some very good reason requires a change to it.
By shutting down the V1 API completely, any un-maintained application which uses Dropbox which is still working fine will stop to work (I suspect Android has a lot of examples of this).
This sounds like a very good way to shoot yourself in the foot.
I was caught today by this and never received an email!
Asked the team when did them contacted me about this.
My app is not working and I have to stop everything I am doing to fix this immediately!