I still use Version 2, with the ISA card in the PC (I'm using an rather old Athlon K6-2,3D (900MHz) w/1Gb RAM & XP home with an A1200 running 3.5OS. It works well, although, as noted, it is too slow for real time projects.
I have never used the version 2.5, which doesd not use the hardware switcher, so I cannot say how well they work.....