I purchased v1.5 and have received free upgrades up to now. A new license will be required for v.2. Palm and PocketPC support, analyzer, printable Jepp style, great program. I've tried quite a few of them including the Jepp one, FL200, various homemade ones...
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I am a big fan of Logbook Pro. If I were you, I'd wait until V.2 comes out. It's in beta testing now (I'm a beta tester) and it's a great product.
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When is V2.0 due to be released? Right now I am torn by LogBook Pro and Flight level 2003. I have PCAviator now and I am not too happy with it. I am not able to log PIC and Dual Recieved together (read: I am too lazy to make a customizable column)