The 301 is a straight (non zizzag) stitch, so you get the same very straight stitch that you get with with a FW. The aren't as cute as the FWs, but not much heavier and better priced. I don't think you'd be disappointed with any all metal machine. Go look at this thread and see how many very antique machines are still going strong.
http://www.quiltingboard.com/t-43881-1.htm
My 1956 301A sews wonderfully. I also have a 128 from 1956, but I haven't cleaned her yet to see how she does. I'm a little apprehensive about the shuttle instead of a bobbin, but I'm sure it will just be a learning experience and will be fine.