@Kranthi Thanks for reaching out. The migration from stv1 to stv2 for Azure APIM is primarily about updating the underlying compute platform. This migration doesn’t directly impact the service/API configuration persisted in the storage layer. The process involves creating a new compute in parallel to the old compute, which can take up to 45 minutes.
As for performance improvements, the stv2 platform comes with additional features and improvements such as support for Azure Private Link and other networking features. However, specific performance metrics would depend on the individual use case and configuration.
New compute platform has more capabilities (Availability Zones, standard LB), it is more resilient to failures (nodes are over-provisioned in case there is a failure)
In terms of Service Level Agreement (SLA), APIM provides an SLA of 99.99% when you deploy at least one unit in two or more availability zones or regions. This means that with the addition of availability zones in stv2, there can be improvements in the SLA.
do let me know incase of further queries, I would be happy to assist you.