Personally, I don't think there is any doubt that Iran got their hands on some S-300 variant, likely sometime in the last 5 years. Do I think this "Bavar373" will really be better than the S-300PMU variant Iran ordered from Russia? Probably not, but that depends on a lot of factors.
For example, if the system is actually an indigenous design that has no connection to the S-300, then I would bet it would be inferior to the S-300PMU based China's experience trying to develop an indigenous long range SAM the HQ-9. Originally, the HQ-9 was going to look more like the Patriot in concept and appearance but because of delays in rocket engine technology (original HQ-9 missile had two stages instead of one with the 5V55 of the S-300 and was much larger and bulkier) they choose to adapt Russian technology to finish the HQ-9's development and developed a system largely equal to the system they were importin from Russian in the first place, and it still took them the better part of a decade.
If the system is a reverse-engineered S-300PMU2, then it's likely its development would be shorter and how close it could be to completely would all depend on when Iran got its first access to the S-300 technology. I think Iran could achieve such a feat in less than a decade considering the missile and radar technology we know they have. If enough funds were provided, and they got their first look at the technology in say 2005/2006 I think it's quite feasible they could test a clone system within 2 years.
Another possibility is Russia giving Iran the "blueprints" for the S-300PMU2 which would certainly quicken the pace of reverse-engineering but I personally don't find that very likely.
Also, I personaly believe the claim in the reports of Iran's system fixing "flaws" with the S-300PMU to be pure propaganda. There are no real "flaws" to any of the S-300PMU models. A flaw would be some kind of drawback to the system. For example, take the Patriot System. The missiles have good range, it uses a very good radar system, but it has a flaw in that it still uses towed Launchers, not fully mobile ones making the system more vunerable to attacks by Anti-Radiation missiles than the S-300. The S-300PMU has no such "flaw". Are there possible improvements to it's range and accuracy? Sure, but if that's the critera then every SAM in the world is "flawed". Having room for improvement is no flaw, it is a fact of life.