I have three of the original, two pair of boots, dryers and one of the advantage dryers. They are mostly used for ski boots, liners, and gloves. They both work extremely well and not sure I could pick one over the other.
For me, one of the things I really like about original Peet dryer is it's silent and when we take it on trips you don't have to listen to it running, just plug it in and forget about it till morning. The advantage dryer isn't overly loud but it does make enough noise that it's annoying to listen to in a hotel room.
The Advantage dryer runs on a timer, which can be good and bad. Sometimes, when the item you put on them is really soaked, even on max time, it'll shut off before they're fully dry but that typically doesn't happen. For those that are forgetful, the timer is a good thing because it shuts off on its own.
I don't know how long the Advantage dryer lasts because we've only had it for about three years but I had my original Peet dryer that I used nearly everyday, for over 20 years before it died.
Also, I'm not sure Peet actually makes their Advantage dryer themselves because I've seen multiple different units that looked exactly identical to the Advantage dryer but under a different name. Maybe they do, but I kinda think it's an item Peet subcontracts with to just put their name on it.
Regardless, of which one you get, if you've never had one before, you'll definitely appreciate having it once you get one.