The "Menace" is a conversion. They are using cylinders from another supplier, or you can send them yours, then milling the top of the head off to make it a 2 piece, and combining it with their head design. It does work if you are willing to trust your money with the Smoliks, who have a not so good reputation. It solves the Phantom's only real flaw if you have a desire to go everywhere wide open all the time, which is heat.
It is not, however, the V4. That will probably come out sometime this year, but nothing official has been said about it yet.