I work at JoAnn's in Rochester, NY and we WERE told that it's a new "formula" and the spool is better too. I am also happy with it so far.
I recently did another quilt myself on a rented long-arm and used King Tut. The quilt is all batiks, purple, teal, turquoise, pink, orange and the thread is blue, purple, green with the color changing every couple of inches and it turned out GORGEOUS! I only find the King Tut Superior thread at a shop 2 hours away and so I stock up when I'm there about twice a year. Definitely worth the little bit extra $.