I was in your position recently ... wanted a compact, portable machine to take to my Quilts of Valor groups. Started looking for a FW, but dang, they are expensive! Even the one I wanted at a local country auction went for over $300, so I decided at that moment to get a 301. They are the best: all metal, gear driven, full sized, handle on top, and they make the nicest stitch. I was so happy, I went out and got another one (besides the classic black one), a lovely LBOW. If you're on a budget (or just cheap like me), go with the 301. The FWs ARE adorable, but I just couldn't part with that much cash for "adorable".
Let us know how you fare!