Here's the info that was included in the email from MyVPro that day the change to use the proprietary chip was announced:
The new chip to be featured in the Pulse 80w BF Squonk mod is a proprietary chip made by Vandy Vape. The chip has been tested and it will suit the needs of this device.The Vandy Vape chip will have all of the features present in the Gene chip,(80w, ultra fast firing, ease of use, etc.) with additional features, such as Voltage By-Pass Mode.
So it doesn't really tell us much at this point. I noticed VV changed the images on the website to 'remove' the display that used to show the Gene chip screen, it now says 'Pulse chip' inside the mod, etc. I've been checking the site regularly to see if they update the specifications of the included chip. Those appear to be the same they were for the Gene chip.
In all honesty, considering what went down here, I'm actually looking forward to trying the new VV chip. I realize it's their first chip, but I doubt they designed it from the ground up, it might be pretty darn solid. As long as it has firmware update capabilities and VV releases firmware in a timely manner for issues, then I'm good with it all at this point. I'm sure if there are serious issues, they will be releasing firmware to address them, especially with everything that happened here.
I know they will probably be rushed trying to get this out, but I would prefer they take a little more time and ensure it's solid going out the door. It sounds like VV has had this chip in the works for some time anyways. So it's not like they are throwing it together in a few weeks.
I've also got these on pre-order (multiples), but I'm trying to be positive that this will work out for the best. Perhaps with the less expensive chip, it will be more widely adopted if the initial reviews are positive.