The T2 is my other guitarist's, but id have to say I like the V2 better than the T2, simply because it has way more features.
The separate lead/overdrive channels are nice because they each have their own independant eq and gain controlls, plus the mini bright/loose and presence toggle switches on the lead channel are pretty neat.
Another thing that bugs me about the T2 is that it does not have a master volume.
My favorite feature of the V2 is that you can program what channels you want the 6 band and fx loop engaged on, so when footswitching it remembers what channels had those activated and automatclly switches them so you don't have to pedal dance a ton (I think the T2 does this as well with the fx loop)