I've owned a grabber g3, two regular grabbers and two rippers. I always liked the grabbers the most. The g3's sounded brighter but the grabbers were just awesoms players. The rippers had only one decent setting...
One thing I didn't like about the grabbers though was the muddy sound. And there was nooooooooooooo way that sound could be altered.
For the style i was playing back then it was alright (loads of hardcore bands play grabbers)
The newer version sounds brighter, and a lil punchier, and in my ears it sounds awesome. More like a fender P.
The old bridge was just awful, it was made as cheap as possible so the 3-point upgrade was defintely a good move if you ask me.
Al the features the grabber II has were things I hoped they'd placed on it 30 + years ago.
Brian Cook from Russian Circles plays one now. And I think he used 1 (or 2) regular grabber(s) for over ten years...
the ony thing i don't like about the grabber II is the headstock. the old one was cooler.