After almost 3 years of continuous use, my Peecock Gen3 needed replacement, so when the new version came out, I promptly ordered one. I have used Peecocks since 2010 and they've come a long way since then.
The Gen4's biggest improvement/change is the dual density, making it more life-like. The scrotum is filled with gel and two (marble sized, really) floating testicles. The skin on the shaft moves independently from the core. It also has a leak barrier to help prevent spills.
Though I'm 6'2" I still went for the smallest one, mainly because I don't need it for sex and I wear tight pants.
packing It makes a more natural bulge in tight boxer briefs than the previous version, because the balls and shaft are softer, and the scrotum has a more natural shape. The top part of the funnel however is also thicker and makes a weird bulge above the shaft. It sits comfortably against my body. I don't use a harness or anything, my underwear (or swim trunks) keeps it in place.
peeing big improvement over the Gen3. The pee hole is finally big enough and I can let loose without really holding back. I also don't have to adjust it before peeing, it naturally sits at the correct spot, something the Gen3 never really did. Because the shaft is softer, it's easier to squeeze it shut on the edge of your underwear, something to keep in mind. Biggest problem is that it doesn't completely drain and it's hard to get the last drops out unless you tip it forward.
playing no experience. I really only use it as an STP-packer. Due to the nature of the softer silicone, however, I would probably advise going gently.
looks apart from the top bit of the funnel, that is thick and unyielding (and unnecessary, IMO, since you don't need that big a funnel because it drains quick enough), it looks pretty natural. If the paint wouldn't rub off so quickly I'm pretty sure it would pass as flesh and blood at a sideways glance. It definitely feels more natural, mostly because of the softer scrotum.
other mine came with a production defect: the layer on the inside of the funnel has a hole through which the clear gel in the scrotum protrudes. I e-mailed them about it, sort of expecting them to deny responsibility because they don't have a good reputation, but they promptly offered to send a new one. I haven't received it yet, they didn't have a light beige in stock and they're making new molds or something, but I can use this one for now so that's ok. I'll have to see how long it lasts though, the outer skin feels thin and I'm afraid it will tear easily.
To sum it up: if they would make the top part wider and flatter, and change the angle of the funnel a bit so it fully drains, and finally make the paint last, it would be near perfect. It's definitely an improvement over their last version.
If anyone has questions, or if you need pictures of something specific (in clothes (I have variety), or just the harness (I got one three years ago in case I wanted to go commando), just let me know and I'll see what I can do.