I bought a Janome 350e last year. I was skeptical at first but the more I read and compared, the more I was convinced this was the one and it would be worth the money - I was not disappointed.
It has the regular and the large (5x7) hoops.
The machine comes with many built-in patterns in both sizes, and there are k-zillions of free patterns on line
Both the manual and the DVD are user friendly
I've never had a problem of any kind with the operation
I've made personalized labels that have enhanced the appearance and the value of my quilts
I've made embroidered blocks that have made it possible for me to market a whole new line of custom themed quilts .
I think the 350e is still their latest model, but you might want to check Craig's List or Ebay for a refurbished one. I've seen a few, but not many - usually they're being sold in favor of a industrial model.
Do your research, there are many sites online that review and compare the most popular models, that's what I did. ALSO, LISTEN TO THE LADIES HERE. THEY ARE THE BEST.
Google: "Embroidery Machines, Reviews, Comparisons, Pricees"
Good Luck