Sorry for the delay, but glad to see it all worked out.
Even though I suspect you'll be able to use this drive for a while, pretty much all firmware versions are reported as 4 characters. In this case, it's 3 numbers plus the period; for other drives, it may be just 4 numbers, 4 letters, or a combination of the two. I guess if PowerISO only showed "1.0" and you now see "1.03", it was at 1.00. For almost any drive, running a firmware updater shows you the current version & asks if you want to update from that version to the new version.
Happy burning & reading.