I tested and confirmed that the older model DID have a cruise control function. However, since I live in the foothills of the Allegheny Mountains (3100 foot peaks) I don't have the luxury of level roads where I can use a cruise control so never made much use of it.
Because I had such great luck with the first controller (over 5000 miles on it in a year!) I bought another one for my other trike. As far as I can determine the newer model does NOT have a cruise control. However, I never spent much time looking for it. Mine is the 12 FET model. I've not tested the 15 FET model yet.
In this area regenerative braking is a LOT more useful than cruise control as it slows the bike down enough that I only have to use the regular brakes for a complete stop and this prevents the regular disc brakes from overheating while blasting down the side of the mountain. Instead of using the extra energy to heat the brakes, it's dumped back into the battery and I sometimes arrive at my destination with a higher battery voltage than when I left home. Of course going back up the mountain is a different story! I noticed a HUGE difference (reduced brake pad wear) since I started using regenerative braking and that in itself makes regenerative braking worth it. If you live in the flat lands then cruise control would probably be a more useful function than regenerative braking.
Speaking of going back up the mountain, I just recently installed a new Li-Ion battery pack. This one is charged to 64.0 volts full charge and is a bit stiffer under load than my old battery pack. Keep in mind the capacitors in this controller are rated at 63 volts so I do NOT recommend this and am prepared for the day when they short but so far I seem to be getting away with it.
Those reading this might be interested in this:
This is what my 350 watt Bionx motor did to my rear tire when I jammed the throttle wide open and pulled out of the driveway during my first test at 64.0 volts using the new controller. I made it about ten feet when the trike started to fishtail and I realized the rear tire went flat. When I started to take the rear wheel off is when I realized I had rotated the tire on the rear wheel far enough to break off the Schrader valve! I took a short walk and found the valve stem right where the end of the driveway meets the highway so this happened almost immediately when I opened the throttle.
This is on a heavy gauge 20 inch (47x406) knobby BMX tube and tire. I had just got done checking tire air pressure and it was 5 pounds above max. so I know low tire pressure did NOT cause this. It simply was too much torque applied too fast to the rear wheel. This controller (and the older model) have turned my 350 watt 20 MPH Bionx motors into 35+ MPH monsters!
I now have TWO 350 watt Bionx motors running on this type of controller. Both Bionx motors failed when the original Bionx controller (which is built inside the motor) failed while blasting down a mountain at 42 to 43 MPH. At that speed the back EMF is above the breakdown of the MOSFETs that Bionx used and caused them to go dead short. So far that has not happened with the motor connected to this controller.
I've been running the 350 watt Bionx motor at the 1500 watt level for about a year with the old controller at 58 volts. At 64 volts I'm seeing ~1650 watts. These figures make sense since the controller limits max current to just a bit over 25 amps as confirmed by the Cycle Analyst...