I'm not sure about which Orvis reel you are referring to. I say this because the "large arbor" version of the battenkill has been out over five years, but they have just come out with a new "mid-arbor version".
Somewhere on this forum Doug McNair gave some opinions on Large Arbor reels and whether they deserve their current popularity. Many people expressing their opinions on that topic all said that they like the faster pickup of large arbor reels, but don't much like how easy it is to end up with the line either on one side of the reel or in loose coils and rubbing on the frame. We also should make the point that not all large arbor reels have the same depth/diameter/capacity relationship. Some have to be more "full" (less space between line and frame) to hold their mfg specified line capacity.
I said all that to show the reasoning for the following. The Orvis Large Arbor Battenkill is THE BEST EXAMPLE I KNOW of a reel that has to be extremely full to get the maker's listed capacity of line and backing on it. I worked at two shops that sold these reels and would cringe when a customer would insist on buying one. I would ask the customer's permission to short the recommended capacity of backing by 50 yards, fill it, and then show it to them, at which point they would thank me for shorting it, as it looked really full. The LA Battenkill is also not saltwater proof. If it was, Orvis would say that it is, like they do for their new...
Mid-Arbor Battenkill- It looks like they have gone to the far other end of the large arbor spectrum and built a reel that is barely different than a conventional reel, in term of arbor size. I would say this is a better end of that spectrum to be on than the super-shallow-arbor end. I would guess that this reel is slightly heavier than the LA, but probably not by much.
After seeing the price difference, I would MUCH rather have the mid-arbor battenkill than the LA if I had an Orvis gift card. With the price difference and similarity of features, I think the Battenkill LA will be extinct soon.
Were it my own money, that's another matter all together. Let me know if you want that opinion, I've ranted enough for now. Let me know what type of fish you're after with this prospective new winch as well.