The Edelux II has a much wider beam than the original Edelux. The Edelux I basically lights a normal one lane each way country road, the Edelux II lights a lot of each verge too, and makes cornering easier. The Edelux II is a bit brighter, but not enough so that it's obvious if you compare different rides on different bikes, rather than ride with someone with the other and compare by alternately covering a light with a hand.
As for the Coax connector, your guess is as good as mine. It will be a bit easier to deal with on punctures etc, but if it does give a problem it will be harder to fix than a spade would be. It's also an extra £20 on the light. I'd arrange the axle position so the plug went into the connector from below, to make it harder for water to get in.
My Nov 2013 Edelux II has the spades. In that time I've had to give a gentle squeeze with pliers to tighten up the connection a couple of times (you'd pull off spade 1 whilst lifting spade 2 up over the hub terminal), and the shrink wrap is probably in need of redoing (sometimes the hub terminal goes between the shrink wrap and the female spade rather than into the spade). It was a bit awkward plugging the terminals back in on a SON 28 Klassik, fingers being obstructed by the dropout, mudguard stays etc, but the current (round) SON 28 has more of a gap between fork and hub flange, and is easier.
The light body will be used for one half of the rear light connection as using two spades would double the chance of a water leak where the housing is drilled.
I reckon it's worth paying the £6.40 for the pre-built
rear wiring loom, on the grounds of reliability, the proper crimp tool having been used, rather than a DIY bodge.