I have a sweet 16 and I love it. The Babylock and Handiquilter Sweet 16 are the same machine with different labels. You should decide on which dealer you like best and what deal they are offering. If you have experience with FMQ on a domestic machine you will do fine without the stitch regulator. I bought mine before the regulator came out, and I tried using a regulator at a shop this weekend, and I definitely do better work without it.
Dealers vary greatly in their prices, from $4500 - 5500 plus another $900-1000 for the regulator. That can include a wide assortment of goodies, depending on the dealer.
Pam