they both replace the spy watch, no disguise kit change or anything.
Oh. Cloak and Dagger is the movement based one and Dead Ringer is the auto-disguise.
A DoT dagger that never wears off until respawn would be neat, especially to see how people use it and counter it. You could just heal it away, but you'd be wasting medics on less-than-useful medic pals all the time. Or it'd pressure the engineers? Either way, it'd be a great pressure tool even with a single spy using it. No back stab but enough DoT to pressure the other team into a semi-permanent defense. Useful for a rush strategy, poison the team, force medics upon them and then rush them, but again, it's spy vs. spy deal, it can also easily be countered by the same tactic.
Annnnnnd....Valve added back milestones as an additional way to unlock the weapons. Nice thing is that while trying to get those achievements you can also randomly unlock weapons!