It seems to dispense at a slightly slower rate as far as i could tell, so lvl 1 disp is a slight nerf whilst the lvl 2 is about the same as the original, 3rd would be a boost.
The reason why i say a spy should only be able to recharge at dispensers and cabinets is because there's nothing more annoying than being hit by spam. Your cover is blown and you have to start again. Retreating to a forward sg position (or even enemy dispenser) or cabinet to recharge a failed infiltration rather than having to wait a few long seconds, regardless, seems an adequite boost. It wouldn't keep spies in their own base, their cloak isn't their main feature; you infiltrate, then use your disguise as your weapon. There's nothing for them to do in their own base.. what's the point in staying in a place to recharge your cloak freely, when it's not even useful there. This idea being that it would just help failed infiltrations by getting you into combat quicker whilst not overpowering the spy overall.
Now i can run from start to finish in badwater, completely invisible. Getting away from enemies as easy as pie, not only that i could strike at them instantly after. They thought i had retreated when i just picked up one or two ammo packs and am watching them spam away blindlessly for a good 20 seconds; wait for them to pass me, uncloak and kill them. It seemed almost unfair, were i not to be the one doing the killing.
Having played spy a fair amount i can see this is way too much of a boost. The concept was a spy was at an advantage cloaked/disguised and a defecit when discovered; hence why it has no decent assault weapons. After this update i've dominated maps because i can cloak into a base, kill several people, and cloak out instantly. Then pass an ammo pack on the way in and do it again on the very next spawn wave. My survival rate shot up from approx 40% to 90%. The balancing issue was that you could be caught out by a keen player; now i can spend a good 80% of my time cloaked behind enemy lines without them knowing somone is even there, let alone me.
Infact on Goldrush earlier i spent my time running from ammo pack to ammo pack whilst invisible just so that enemy engi's couldn't get anything up. There was nothing they could do, because i was invisible the whole time. Then i'd retreat to their spawn when the ammo started running out, kill a wave of people, zap some tele's, and do it all again if the map wasn't already won.
Spy's wern't at a disadvantage to any other class, some people just don't get the tactics involved, it's a very unique class. A good spy could kill a team before, as much as the next experienced player using their chosen class.
Now that they've sorted the 10 second cloak really being only 7 because of the mist, when they fix the backstab that should have been enough to keep things balanced.
End of rant i guess.