What you're talking about is the AVL engine.
Yes, the head is very different in almost every way.
I think the idea was to give it some styling effects that were reminiscent of the old "Big Head" Bullet Fury from the old days. It's bigger, has more fins, the rockers are on shafts that ride in the head, and the rocker covers are angled, all reminiscent of the old Fury, to some degree. Not a close copy, but vaguely taking some styling cues and features in an attempt to keep family resemblance to an older model.
It also has a different combustion chamber and ports,
So yes, the head is quite different on the AVL.
The lower end is different too, but much closer in styling to the old engine lower end.
There are indeed some benefits to the newer design of the AVL. It cools better, for one thing. And it oils better.
But in the end, the performance envelope is about the same as the old Iron Bullet, so it's a matter of choice, and people ride and enjoy what they've got.