After borrowing my dad's SBE I as much as possible, I purchased by own SBE II when they came out. I have shot both of them with various loads to try and determine if there was much of a difference between the two in the amount of felt recoil. I have been unable to tell much of a difference.
A few things I have noticed about the II is that I like are the larger trigger guard when I am wearing gloves, and I like the High Rib that my SBE II has over the low rib on my dad's SBE I.
Also as mentioned the SBE II has the CRIO+ Barrel and longer Choke tubes.
Mechanically both guns are pretty much the same, and both have cycled lots of rounds and have worked flawless in very rough conditions.