As per the new policy, they are giving V1. So you get it for 10 years or till your passport validity date. But IRCC being IRCC they are still giving W1 to many. Me & my dependent got V1. I am still waiting for my Spouse's passport.
They got mine and my dependent passport on 18th Jan but the counterfoil was generated on 1st Feb. so it’s actually around 2 weeks and then 1 more week before they dispatch and you receive your passport.