Hi Adam,
Since nobody really answered your question I'll take a simplified stab at it. You have three basic designs. The SD, the GP, and the GPX. Each version offered several units, which basically refine the first release in each series.
The SD2100 and SD2100v2 are fairly simple manual ground balance units.
The SD2200 and SD2200v2 offer automatic ground balancing or a fixed/locked ground balance. They also introduced an iron disc feature of dubious reliability and audio boost.
The GP Extreme offered enhanced sensitivity to small gold that was lacking in the earlier units. There were quality control issues with the unit however. The GP 3000 is essentially just a refined GP Extreme and the GP 3000 performance is more consistent between units. Threshold smoothness was improves to be less erratic. The GP 3500 is again just a refinement, with the only feature of note a button on the handle to allow for easy switching between ground balance modes.
The GPX-4000 was another break from the past, going to a digital control system. This allows for more adjustments but also more complexity. The GPX can attain smooth thresholds on par with the best VLF units. The GPX-4500 is a refined 4000.
I disagree with those that say you can get more depth on large gold from earlier SD units than from the latest models. Having used all the models the largest improvement I've seen over time is vast improvements in threshold stability and the ability to adjust for more varied circumstances. It may be that in a particular location an SD will do just as well as a GPX. But not where I hunt. My SD units all had the famous Minelab "warble" whereby the threshold constantly wavered. This meant that small nuggets or very deep larger nuggets had to give enough of a signal to break through the waver. A far cry from listening to a rock solid threshold for the faintest whisper or "break" in the threshold. You can get just such a rock solid threshold with the GPX units. It is not that the GPX goes deeper, it is that you can here nuggets you would miss with an SD as they could not be discerned as clear signals.
More important on my ground was that my SD units simply could not tune out the intense magnetic basalt cobbles we have to contend with. The cobbles give a faint gold hit. So you either dug them all (impossible) or simply ignored the faint signals. But some of them were small nuggets or very deep larger nuggets. When the GPX arrived at my property I saw so many more small nuggets and deeper large nuggets come out of areas well hunted to the point of being "hunted out" that it was obvious the GPX had a significant edge. I'm not talking a nugget or two - I'm talking pounds of gold. The new GPX timings can allow for a clean solid threshold in areas where that was impossible with earlier units. Those that do not hunt such locations do not see the value in a GPX. Those that do know what I'm talking about. There is no way I'd go back to using an earlier model than my GPX-4500.
Steve Herschbach
Steve's Mining Journal