Not sure about version 1, but I'm testing version 2 right now and I have to say it's the best auto spinner I've seen bar none. The content is actually extremely readable and probably better than the manual spins a lot of people do out there. However, some of the content doesn't pass copyscape so make sure you play around with the settings. Minor edits should do the trick. I'm on the trial now but seriously thinking of keeping the Turing plan for my Tier 1 content.
There are some 'free' article spinners out there that require you to enter your text with properly formatted 'spintax' in order to create the end result. But how you need a totally separate tool to create this machine formatted text, so how is this really useful to you? Spinbot does all thinking for you, from taking in the context of every phrase to creating additional textual content that is as readable and meaningful as the text you originally entered.