The new version of LSK has the same content as the previous version. It's just in simplified Chinese instead, and the covers are drawn by J.U. (volumes 4-6 don't include the manhua that comes with the first edition either, since those were drawn by Ya Sha).

Yu Wo posted up a story about the 37th generation called When Teacher Wasn't Yet Teacher. Have you read it yet? Only the first half is up though. :3