I love my tiara1. It is at least five years old and it is working fine. No stitch regulator but I do have to get the tension adjusted every so often. didn’t know about the update. One word of advice make sure there is a place for you to get it serviced. I have broken the needle off into the under side of the mechanism twice and had to have it fixed.
A word of caution about pre-wound Bobbons: they seem to mess up my tension and my technician at the LQS said that he thinks they often don’t work well with tension issues.
I agree with the other Post completely. Good luck and keep us posted as to what you decide. Oh my new one which was a floor model was about $4000 five years ago not sure what you are planning on spending.