The S12III still lacks OTP and OCP just like the S12II. It also appears to still be group regulated. They changed the fan to a sleeve bearing instead of a fluid dynamic bearing, and now the Life Expectancy is 30,000 hours at 40 °C instead of 50,000 hours at 40 °C. Also, the S12 III has a Taiwanese capacitor instead of a Japanese capacitor which the S12 II had.
Looks like a downgrade instead of an upgrade. No wonder they are so cheap.