61.51(e)(1)(iv) is a new reg (October 2009). But it provides an =additional= basis for logging PIC. It doesn't remove the basic (e)(1)(i) sole manipulator with the appropriate aircraft ratings basis (note that little "or" between (iii) and (iv).
I'm going to take a WAG - your CFI either is or has listened to someone who never accepted the FAA's decision to allow PIC time to be counted in this way and has been looking for an excuse to say it's changed to fit their world view (people were saying this when sport pilot "privileges" was added to 61.51(e) a few years ago).
But no, it hasn't changed to reduce the ability of a pilot to log sole manipulator time. (e)(1)(iv) was added to allow logging PIC for certain training activities. Notice that it allows "performing the duties of PIC" without manipulation of the controls - essentially training for the duties of a captain in a 2-pilot crew where the "student" is performing the duties of captain supervising a "crew" with the "crew" doing the flying.
If you're interested in some research, you can read up on the changes here:
http://frwebgate2.access.gpo.gov/cgi...ction=retrieve It's the Federal Register Final Rule that talks about the changes.
(Sometimes those links don't work. If not just go here
Federal Register: Simple Search . Choose Volume 74 and put "61.51" in the search box (with the quotes).)
I agree with Der Meister about "show me the regs." But less about the "ask the FSDO" part. FSDO inspectors are notorious for passing on bad information in this area and the "someone who never accepted" your CFI may have listened to could very well be one of them.