You can remove V1 before installing V2, that will make your game cleaner because of less files, however I dont think it matters if you remove it or not.

-Drag all items from ENB folder to your main game folder
-To install the timecyc, you can either drag timecyc.dat to your data folder, or if you are going to play SAMP, install with modloader.

Lower game brightness to around 4-5 bars

Changelog:
-Uses ME 2.0
 *FXAA
-Bloom 
 *My main target was only lights such as tail lights and headlights, so you probably won't see any difference on anything else but lights
-Shadows
-Tweaked timecyc
 *Adjusted the sky bottom color for midday, so now the sky isnt just pure blue for 12 PM, not a big difference but better than before.
-New DoF
 *Meant for screenshots=unplayable
-ALT-TAB bug "fixed" thanks to G.iJoe, now you can alt tab properly again without pressing ESC
-Adjusted some other little stuff too

CREDITS:
FreezIn
Ivy aka stuyk
Marty Mcfly
gp65cj04
Soulwynd
kingeric1992
Chris12345 for base timecyc
prod80