I also have an old Kenmore, but when I started quilting (2 years ago) I wanted something more without a big investment. The Singer Quilter's Confidence #7469 fell into my lap as a friend was upgrading. I love it for the basics. I'm not able to embroider or do tons of fancy stitches or quilt 'big' quilts, but I love it. It has the needle down and extendable bed you mentioned and a couple features my old Kenmore doesn't. I've seen this Singer in JoAnns flyers frequently for $100 off which puts the price around $300. Not sure if they allow coupons on machines, but worth checking out. Decisions are tough - good luck!