Ai Guys..
Thought I may shed some light on my findings so far:
63kg
Freestyle / Freeride
Based in Central QLD
Previously owned 10m Switchblade 2010. Recently owner of 2012 Switchy.
Firstly I haven't owned or had the opportunity to give the 2011 kite a Ride. So my Comparison will be with the 2010.
I have had 4 x 3 hr Sessions on the 2012 Switchy. Firstly the bar setup is a vast improvement, Love the new free rotating swivel just above the Chicken Loop. I for one dont like twists at all in my lines and this simplifies untwisting them. The Chicken loop setup has also improved (Will stay open and not flaten out). I found that, on the 2010, when unhooking your Chicken loop was pretty narrow and sometimes hard to hook back in. This is awesome and I dont forsee it being a problem. I do find the Donkey Dick difficult to get out of your loop but I think with a bit of use this will soften up. The Bar ends at first glance seem bulky and like an African Fighting Stick - However makes winding lines simple. So all in all a great bar. Still has the Spring from 2011 which is an improvement on the 2010 straight up.
Kite: First thing I noticed on the 2012 when setting up was on the wingtips there is a solid Rod approx 30cm in length - Not sure what this does. Anyways Connections all good, pulleys still the same (i think). New wakestyle setting (Haven't Tried).. So all my sessions have been in 12 - 20knts. Definitely feels more connected and HEAPS more responsive the the 2010. It is faster then the 2010 by a fair bit, and super predicatble. Bar Pressure is way way down on the 2010 - this was evident when my brother was riding my 2010 and half way through our session we swapped and immediately I could feel the difference, I switched back fast. I don't think its as grunty as the 2010 but I was riding the same on both kites. Perhaps its the sensation of a drop in Bar pressure (Time will tell) - maybe a drop in a knot or 2 in the bottom end. It is awesome unhooked - I feel way more confident on it compared to the 2010, dunno how I unhooked on the 2010. It certainly still has that constant Switchy Power.
Its Shape in the Sky seems different. Seems like the wingtips come around more and not as flat in the air. They have changed something But not too sure where and what - improvement nontheless.
Bag - Has "board" Straps. Nice Straps for your bar on the side, Pocket for Pump. Initially its a tight Fit (But thats the way we like it

)... Also has a seperate Bag to leave your struts up if necessary. Handy I reckon.
Too sum it up - Really enjoy it, definite winner for 2012. Highlights being considerablly less bar pressure. Awesome bar setup & Direct feel.
On choosing my 2012 kite I also rode the: Naish PArk 2012, Naish Torch 2012, Cabrinha Drifter, Cabrinha Vector, RPM 2012, North Vegas 2011. - I guess i stuck with what i knew.
Peace out!!!