The v3 Out-GridView is no longer effective if text data contains more than 9 lines of text. If the data in a column is particularly large, the row won't expand vertically past 9 lines of text and the displayed data is truncated, showing ... (ellipses) instead. Copying the row to the clipboard likewise only copies the abbreviated info and the filter criteria only searches the first 9 lines.
We have a script that parses a log file, outputting date/time info, errors and XML data using out-gridview. In v2 if the XML data in a column was large, the row sizes of the gridview would expand vertically to accommodate the long string. We can see the data, copy data we need to investigate further to the clipboard and search the data using the filter criteria. For some of us this ability is so essential to our work that we cannot install v3 because we cannot limit ourselves to only filtering on the first 9 lines of text.
Screenshot showing truncated data and log file: http://social.technet.microsoft.com/Forums/getfile/186894
With v3 installed, running "Powershell.exe -Version 2" does not help since the out-gridview functionality does not work in that instance. See: https://connect.microsoft.com/PowerShell/feedback/details/774972/out-gridview-fails-to-show-in-v2-after-v3-update