I have modded my V2 with a DUO and it's been working fine for a month now. I just had to clean the laser to get it working in top form. You can't adjust the cog, however, because it auto-adjusts. As long as your laser hasn't been having trouble reading originals, it should work great with a mod.
Also, I specialize in V2 installs, so I can do it for you if you're willing.
"Nagi, how do you feel about being 'normal'? Normal means that if you leave something alone, it just remains that way forever. So if you can't stand that, then you have to be "not normal" in some area... - Seiichi Kirima's dying words