I don't think your avatar is a 301. Does it have a number on a small plate under the stitch regulator? It may be a 400 or 500 series. Does the Kenmore have a vertical bobbin? The FW and the 400 will piece well and the 400 will sew anything you want it to. Usually a vertical bobbin like the FW has FMQs better, but lots of people have luck with horizontal ones. I would not FMQ anything larger than a placemat or table runner with the FW, especially a precious little white one.
Why buy a new machine? These old girls were meant to do whatever we ask of them. I am FMQ on the 301 right now and a Montgomery Wards 15 clone has snowballs started. I'm thinking of a 15 in cabinet, but I really don't need it.