What a wonderful problem to have! Like Joe, I would buy both and put the 66 in the better cabinet. The 66 will handle heavier fabrics than the 127. (I have both.) The 66 is more of a workhorse. Plus, I'm not fond of that shuttle bobbin even though I did learn to sew on a 127 treadle. Decals on the 127 are excellent, as is the cabinet, and that's worth more. It's also reasonably rare. Decals on the Red Eye (66) aren't bad. Parts are easily available for both.
I brought my current 127 back from the dead, where it had been for 40 years. Even though I often work on machines, this 107-year-old machine still doesn't give the best stitch, although it now runs reasonably well. What I will probably do, since I'm not in love with the 127 but am in love with the cabinet, is to buy the following Janome zig zag treadle head, put it in the cabinet, and be able do do some real sewing during power outages.
http://www.allbrands.com/categories/...ttonhole-dropi