I'm not sure if I'm going to get some flak for posting on this topic again after 8 months, but I wanted to give an update on the KBT Race II.
The issues some people had complained about, particularly LEDs failing, has not happened to me. So I think that, the LEDs failing were probably a first generation KBT Race problem.
Another issue some people complained about was the keycaps wearing out. The keycaps haven't worn out for me and I use my keyboard heavily for typing, and also for gaming. I would note that I keep my hands very clean and my finger nails short, so I wouldn't be surprised if other peoples keycaps wore down quicker.
As you may have figured from seeing the first picture, I am another victim of KBT Race keycap replacement torture. The R5 profile on the KBT Race is amazing, using F-keys is great. In fact for someone heavily using F-keys I would even go as far as to say the KBT Race might be the best keyboard for them. The problem with the KBT Race is not being able to get away from the stock thin-ABS keycaps while still keeping the R5 sculpture. I figured I would wait until Vortex sold a blank set of PBT keycaps, which they did recently. Unfortunately these blank OEM profile keycaps stop at R4 profile.

Using these keycaps have made me aware of two things, (1) how nice the R5 sculpture is on the Race and (2) also how terrible the ABS keycaps feel in comparison to thick PBT keycaps. Here's what $80 (because I had to buy two sets...) of keycaps look like on a KBT Race II.

Note the R3 tab keycap on the top row. :\ #KBTRaceProblems
So, I think I'm going to try to source a set of Bi-Color Vortex PBT keycaps to get the top R5 profile. It'll probably look weird but It'll feel good and I think that's what matters most on this board.
Cheers, and sorry for the necro.
-Max