I see this thread has been getting tons of attention -- well maybe not so much.
I recently was faced with this decision and I went for the II version, for several reasons. One, the older version is no longer being manufactured and new copies will only exist until stock is depleted. Two, the (slight) improvements to heat tolerance and recycle times that you mention. Three, when combined with Canon's new version of the external battery pack, the recycle times are not only improved even more (as before), but supposedly there is some new communication between the battery pack and the flash to improve operations -- if I ever spring for the CP-E4N, which is as costly as a new 430EX III-RT.
One thing I was slightly disappointed with is that the 600EX II-RT no longer has the external remote trigger output, for slave triggering an older camera whose shutter release does not communicate with the flash via the hot shoe. Not that I have ever used this; it's an obscure feature anyhow, and probably only used by some people in some rare situations.
I also have the Canon ST-E3-RT transmitter.
I recall seeing a post some time ago from someone using the original 600EX RT and who encountered overheating several times. This was just after the new version was announced, and he was going to get a couple; I don't know how that worked out for him. I have had overheating with my old 580EX II flashes, when outdoors on a sunny day and using it for fill, but that's the only time. And it only occurred after lots of use.
I just wish the Canon flashes weren't so *!+* expensive. I got mine (two) when a substantial rebate was offered here in Germany, which reduced the price by about a third.
One final comment about ETTL. I have found that, if the camera is in any mode but full manual, ETTL will always try to be fill rather than primary light source. I get the best results with ETTL when the camera is set to M. I wish there were two ETTL modes selectable, one for fill and one for main, but I guess when you start using groups and other multiple flash setups that ETTL gets confused.
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Shane