I cannot tell you about new vs old, but I've owned both a 5" and 7" version from ca. 1977-1980, and never had a single problem with either. Some report a sensitivity to the ammo chosen, but mine ate Remington Gold, Winchester bulk pak and CCI SV all equally well. And yes, they are accurate, shooting better than me even when I was competing in bullseye matches back then.
Get one and have fun. Pick up a few extra magazines as well.