Yeah, I would run with your thoughts. The Ortovox S1 was much heralded and much delayed. When the first generation came out it was pretty good but it also had a couple of serious (though low tech problems, not software) design issues that I could not recommend using it. Ortovox has addressed those issues and now it's a amazing though pricey beacon.
As I said before. If you are looking for a price point Beacon, I thought the D3 was solid.
The Pieps DSP is definitely worth the money. I still get over a 60 meter range with mine. Which is way better than any other digital beacon out there. Throw that in with a great pinpoint search, the making capability, plus software upgrades, and you have a top notch beacon.