The new waterfall is going to be easier to maintain. It has a concrete shell to hold the rocks that will face it, and also hold the liner in place from slipping or sinking.
My old pond's waterfall was basically a big pile of dirt with steps cut into it, and covered with liner and rocks. It worked just fine, except with the winter rains ice, snow and such. It wasn't as stable as the new one will be. The rocks wanted to sink some pulling the liner, making leaks possible, or set them in a different location making water splash out of the water flow, wasting water.
The new waterfall will carry water from my skimmers and water from my filter, or either one, as I choose. A simple twist of a valve and I have control of the water flow. It also has a waterĘby-pass valve, meaning you can shut it off during the winter and run the water back into the pond at a depth low enough so not to cool the water more from the cold airĘtemperatures. My old waterfall had flow only from my filter and I had to plug pipes to change the water flow in winter. My new one has a shut off valve.