Hi Doug,
The older Ospreys (60, 70's and early 80's) had little freeboard in the back, open afts, little to no deadrise and the sides were usually around knee high.
The newer models started enclosing the aft, sharpening the deadrise and deepening the sides to around thigh high.
If you want the feeling of security plus the sharper "v", get a newer one, otherwise get the "classic".
Hope that helps.