Takes an Aussie to evaluate true worth...

There is nothing wrong with the old "stick" (and most other brands)

as long as you trim weekly, however, when the turf gets about 60mm thick, it's a different battle.
Both the old and new use the same blade,

however, when comparing the wear on the "stick"'s original blade after countless years with the one on the new edger after a few uses, you may get an impression of it's affectiveness when you look at the jobs it tackles. 
The old one stalled when it kissed concrete while the new one tries to cut through it and finishes up skipping along it... I suppose the moral of the story is; if you don't let the grass get out of hand, you don't need this big daddy.

If your first cut is too short... Take the second cut from the longer end... LBD