Yes, they are cute. If you take one to a venue of non-quilters, you will get many comments about your "toy" sewing machine.
And, yes, they are very transportable. That is one major advantage in my book. Plus they are small to store.
However, the 301 wins with me every time. The slant needle is a wonderful feature. With the FW, my line of vision to the needle is blocked by the tension knob. Maybe the height of my table and my body size is the problem there.