Yes, if you switch to a 512kb LS1B PCM (99-02), you will need to use a license to tune the vehicle. But, you open up all the COS options (I'm betting your tuner has halved the VE and spark tables to make it run with boost) which allows for a lot more control over fueling while in boost.
You could use your V1 to do this if you so desired, just leave 1 license on that cable when you go through the upgrade it. However, the V2 allows the same functionality PLUS you can remotely log/scan/tune with it. If you licensed it to your V1 now, you could copy this license over when you do your V1 -> V2 conversion, otherwise you would have to use a license on both the V1 and V2 if you wanted to use both cables.





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