Crank is the difference, valves and cams don’t “need” to be changed but the more u do, the better the result.
if u go gen 2 crank, rods and pistons, u don’t need to deal with a spacer or anything. (More money) If you just use a gen 2 crank and gen 1 rods and pistons, u need a spacer bcuz you basically are stroking the engine. Also The pin on the rods is different gen 1 to gen 2 so u can’t intermingle em.