Zoom Fly Flyknit is vastly superior to the original Zoom Fly and Zoom Fly SP (different upper). They take a range of paces from all-out on the track to jogging a warmup with ease and comfort. They are amazing shoes. I'd still race in the Vaporfly 4% (I have a couple pairs of those so speak from experience), but the new Zoom Fly Flyknit feels kind of similar to the 4% in that they feel awkward/terrible to walk around or stand still in, but once you get rolling they feel like nothing else.
Breakdown:
Zoom Fly (original) = crappy mix of Lunarlon (which sucks and lasts about 200 miles) and a primitive version of React foam that was hard and inflexible w/a "carbon inflused" nylon plate (which was extremely stiff). Largely a forgettable and poorly designed shoe that was all marketing.
Zoom Fly Flyknit (really these should be called Zoom Fly 2) = React foam + a real carbon fiber plate in the same general shape as the Vaporfly 4%. However, the plate does not go edge to edge, so the shoes are not as stiff as the Vaporfly. The React foam is very bouncy, but not as soft or light as ZoomX. I did a 23 miler right out of the box in these and they were fantastic. The second best shoe Nike makes next to the 4%.
Vaporfly 4% = ZoomX + carbon fiber plate
Vaporfly 4% Flyknit = same shoe as above with an upper that's more stretchy, thicker, and and a little hotter on the foot. Due to the stretchiness it's a little more forgiving and comfy on the foot, but not as secure.