As mentioned above, to some degree this is personal preference. At least on my computer here, Cps 2.0 seems much much slower but it a couple of other things that have helped some of us thru out recent years. I still use a mix of 16.828 and 2.0 depending on what radio I'm working on at the time, and also obviously what firmware it has. Recently I got a few SL-300s, and SL7550s and they were simply too new in firmware to use CPS 16.
Yes to my knowledge they stopped support for 16 some time ago, so modifying it is the only way to get the wide band. I "read once" that someone said if you get the wide band for 2.0 it also activates it on 16, but guys near me that have tried that, it hasn't worked for them. Hex editing things is an experience within itself so it's all a learning curve.
Frankly when we started this Motorola stuff some years back for 33cm ham, it was almost a different subculture itself and new learning. Hang in there, it's all a learning experience and once you get it, you'll be glad you hung around.