I have FTM version 3. I'm reluctant to buy a newer version because I don't like the look of it and the newer versions don't seem to do anything else. I had a look at the product tour and where it shows the pedigree view but it shows the names as buttons. On my version it shows them as a box where I have their birth, marriage and death dates and places, which is very helpful. It also didn't show the descendants view or the all in one view. I also don't like how on the pedigree view it only shows 6 generations and then you have to click the arrow to show the rest - On my version I just click on me and go to ancestors and it'll show all of them, which I can then print off. There doesn't seem to be a print preview on the newer version either.
From the product tour all I can see is that my version, probably about 10 years older, has everything I need (apart from an all in one tree printout, which I'd like) but is far more practical and convenient.
I have to say that from watching the product tour, it didn't make me want to buy it and didn't tell me enough about it to make it a necessity to buy.
Even though the newer version has a web search, I certainly wouldn't use the merge button because that would be assuming that the other person's research is correct, which virtually makes that feature obselete to me.
Andrew