I have bought the newest version of Villains and Vigilantes and it brought back some great memories of playing it as a teen. There are a few differences from the 1982 revised rules but really nothing that is game breaking, I am just happy to see it in print again and in the hands of the creators.
I also have been looking at ICONS and I have to say that I really like these rules...and I have converted quite a few Marvel and DC characters. The rules are very simple and I can see that everything that I have done with MnM/Champions/Marvel/VnV I can do with the ICON rules.
I look forward to the next edition of MnM but I'm not sure I will be picking it up right away...but we'll see.