It's not going to be a water detector, don't hold your breath for that.
From what I heard it's a licenced copy of the Eric Foster Goldscan 5B. The Goldscan is a, Target ID'ing, very high powered, PI detector. Primary designed for nugget hunting. It does an exceptional job at salt beach hunting, and relic hunting. It has the ability to ID between ferrous & non-ferrous metals.
I have not seen either one of these detectors. The Goldscan has been on the market for about 2 - 3 years, and the Whites have been in the field testing mode for few months. There is one fellow in VA. that has been using the new Whites for relic hunting, and has reported real good results with it. When will Whites release it ?? It would guess as soon as they feel all the bugs are worked out.
Sorry I don't have more info. Even what I do have is second hand.
Rissa