Some call it Pyrates 2.0, some call it version 2, some say Next generation Pyrates and others say the New Pyrates. Each name refers to sets issued by Mega Blocks just a few months ago, presumably for the new PotC movie.
I hate the fact that they aren't really new sets, but they are slightly different sets with the same name and mismatched faction symbols. I went to Toys R Us the other day, and picked up a set called Hidden Loot (originally a skelaton sack set) with a VVV marauder symbol on the sack and a skelaton symbol on a Privateer's "badge." (the thing on the boxes and in the directions that says the name and shows the guy.) The Stormstalker looks like the Brown Pearl, (Those of you who pay attention to parts, details, and PotC will know what I mean. And yes, I mean the Brown Pearl because it is brown. It was a joke.) and the Phantom got rid of the throne. and only a select few sets were chosen to be re-born.
They include: Stormstalker, Phantom, the three main skull sets, the three main sack sets, and Smuggler's Fort. The map shows Pyrates Cove, but I have seen nothing about a new Pyrates Cove elsewhere. And the figures have the same names.
I give Smuggler's Fort a 8/10, it's actually quite different. the rest, not so good.