In the case of the Empeg, the only thing that V2 tags will gain you is the longer field names. The extra V2 fields aren't used by the Empeg.
Note that if you use V1 tags, you can add more than 30 characters in a field after the song has been dropped onto Emplode. The 30 character limit only exists in the original ID3 tag, not in the Empeg's database.
Your decision between V1 and V2 is therefore only relevant to whatever other third-party software you intend to use with the MP3 files. Does the third-party software support V2 or not?
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Tony Fabris