A massive improvement, but...,
This review is from: Rocksmith 2014 Edition - Includes Real Tone Cable (PS3) (Video Game)
This 2014 version is a massive step forward in terms of interface from the original - clean, no more endless zooming shots, easy to navigate, and you do not have to check the tuning of your guitar every minute - hurrah!!!! The ability to drop into and out of phrase repeater mid-song is also very helpful.
One significant irritant for me is it is sold on the basis that you can import the songs from the original game. True, except they charge you £7.95 (or similar) for the privilege - and even then you don't get all of them. Given the high cost of both games this is very poor.
Also note that that whilst Ubisoft is well stocked with other songs/bands to download to add to the game, none are cheap.
I'd doubt that on its own this will turn you into a guitar legend, but it does make practice a lot more fun, and its rewards and variety keep you coming back.
Worth noting is that cover bass guitars, and six-string guitars - either lead or rhythm.