The eq has not changed, just the amount of dB you can boost or cut. Cutting is much easier to deal with because you don’t run the risk of overloading your audio system. DPS v1.x has no protection from overloading at the end of the signal chain so we only allow 4dB of boost. DPS v2.x now had overload protection (along with several other features) that allow for much greater range of control. Technically, the eq can boost or cut as much as 18dB. But that is a bit extreme for most folks!
In theory (though not always in practice), boosting at one frequency then cutting that same frequency with another eq band will result in flat response. And the bandwidth of the eq in DPS 2.0 is fixed at 0.7.