Warning: If you buy this model you are in danger of losing everything you own. An attempt to build it properly can lead to purchasing mountains of 'peripherals' such as etched-brass detail parts and pewter crew figures, and my steal months or even years of your life, leading to the loss of loved ones, jobs and possibly even starving due to neglecting to eat. On the other hand your self-esteem can be raised immensely by doing it right.
This thread will illustrate some of the possibilities.
http://www.subsim.com/radioroom/showthread.php?t=123846
Is there a "new" version? I don't know, but as has been said the original is well worth the money, and is a spectacular model right out of the box.