As far as I can remember, the Gen2 also has a tightbore and a high torque motor. The Gen1s were basically just metal bodied versions of the "sportsline" polymer furniture range, with a few tougher internals, gears, bearings, etc.
The Gen 2s had tightbores and upgraded motors as standard.
The Gen3s have better wiring, a mosfet, a high torque motor and a tight bore. The hop units are the same across all of them I think, G&G's hop units are just exceptionally good in my experience, so they've just made a point of mentioning it, it's not because it's something it has that's better than the previous model.
Standard M4 mags ought to fit all of them, as that's what they take. Pmags will not fit in anything prior to Gen3 because they have 416 style magwells, which are longer, though not enough to really notice a visual difference.
The point of stating the Gen3 has an M4 mag well is so that it can take all the mags M4s can take, such as Pmags which previously did not fit the 416 because they have a lip on their leading edge, which used to hit the extended mag well and no push up far enough to lock in.