Apple hasn't made it clear what's under the hood. I have a gen 1 stainless steel. I like everything about it, except it's slow. Perhaps watchOS 3 will be enough to speed things up to my satisfaction. Meanwhile, I did order a series 2 and will be waiting until the end of the month to get it. Is my gen 1 in effect, a series 0, meaning that the series 1 is faster than my gen 1 watch? If yes, it would be nice to know how fast the series 1 vs series 0. And how fast series 2 vs series 0. Anybody here know this information? Seems like Apple mis-priced the gen 1 AW which then required a few price reductions. And now retailers are heavily discounting their gen 1 inventory. Looks like best I can hope for is getting half of what I paid for my gen 1. If I can only get 25% of what I paid, I think I'll just keep it and hope that watchOS 3 will give me a 33% boost in speed.