The talk by Van Diggelen, as well as the statement from Broadcom in the gpsworld article, suggest that getting V3 is the important goal.
The higher chip-rate of the L5 signals is purported to reduce the demodulation ambiguity introduced by multipath reception of a satellite's signal.
In Van Diggelen's presentation, the individual multipath components in the L5 are asserted to be narrow enough that they no longer overlap.
If the receiver can now discern individual rays of the multipath signal, one can imagine an extremely sophisticated machine model learning to leverage the multiple ray inputs, together with satellite ephemeris and the urban 3D model, to gain improved positioning accuracy. But imagining and implementing are different things. It will be interesting to see what real-world performance is provided by V3.