When most people in this day and age play fighting games, they start on a regular controller. Most new gamers don't realize that the fighting games they're playing are designed to be used with an arcade stick, this is where the Tournament Edition comes into play.
First of all the Tournament Edition includes the same Sanwa JLF-TP-8YT stick and 8 Sanwa OBSF-30 push buttons as the arcade cabinet. These parts are arguably the most precise parts on the market. For a little added touch there are Sanwa OBSF-24 push buttons for the start and select buttons. An Xbox/Psn guide button, turbo and stick selector (right stick, left stick, d-pad) are included on the stick along with a lock so you don't accidently trigger them while fighting in the streets. A long breakaway cable is stored in a compartment in the back of the stick for added convenience.
The art is much improved over the Tournament Edition V1, now featuring dark side bars and darker art in general it looks beautiful. My only gripe is that Mad Katz decided to keep the maroon bezel going around the stick. I would have loved seeing a nice white bezel.
As with the first tournament edition, the stick is incredibly easy to modify. You simply have to unscrew 6 screws and the whole back opens up. All the button have quick connecters for easy replacement and the stick is held in by a few screws and a ribbon cable. This is by far the simplest stick to modify on the market. The stick itself is about 7 pounds and will solidly sit on your lap or table without moving.
Other brands, noticeably Hori make solid arcade sticks as well but most require heavy modification and purchasing of premium parts.
What else can i say? The Mad Katz Tournament Edition Round 2 is the best stick on the market for aspiring fighting gamers!