I have owned several 401 machines since I purchased a new one when they first came out in 1958. I would give one to my daughter then grands then great-grand daughters, then buy another.
Besides the zz, built-in cams (and some extras) that you dial with the two dials it has heming stitch and many others.
I am not familiar w/ 301
I have not quilted with one, but have pieced many quilts and made lots of clothing with them.
Phyllis
82 yrs in Oregon
70 years quilting