We discuss a new SU(3)_C X SU(3)_L X U(1)_X X U(1)_N (3-3-1-1) gauge model that overhauls the theoretical and phenomenological aspects of the known 3-3-1 models. Additionally, we sift the outcome of the 3-3-1-1 model from precise electroweak bounds to dark matter observables. The mass spectra of the scalar and gauge sectors are diagonalized when the scale of the 3-3-1-1 breaking is compatible to that of the ordinary 3-3-1 breaking. All the interactions of the gauge bosons with the fermions and scalars are obtained. The 3-3-1-1 model provides two dark matters which are stabilized by the W-parity conservation: one fermion which may be either a Majorana or Dirac fermion and one complex scalar. We conclude that in the fermion dark matter setup the Z_2 gauge boson resonance sets the dark matter observables, whereas in the scalar one the Higgs portal dictates them. The standard model GIM mechanism works in the model because of the W-parity conservation. Hence, the dangerous flavor changing neutral currents due to the ordinary and exotic quark mixing are suppressed, while those coming from the non-universal couplings of the Z_2 and Z_N gauge bosons are easily evaded. Indeed, the K^0-\bar{K}^0 and B^0_s-\bar{B}^0_s mixings limit m_{Z_{2,N}}>2.037 TeV and m_{Z_{2,N}}>2.291 TeV, respectively, while the LEPII searches provide a quite close bound m_{Z_{2,N}}>2.737 TeV. The violation of the CKM unitarity due to the loop effects of the Z_2 and Z_N gauge bosons is negligible. [Full abstract is given in the text.]