I have both, and the 301 is my favorite. It may be my height, but on the FW, for me, the tension knob blocks my line of vision. I have to either find a lower chair or put the FW on a phone book. The 301 with its slant needle is much better. Although it is not a feature that I use, I believe that the feed dogs will lower on the 301 for FM quilting.
Although I love my FW, and it is a few pound lighter, the handle on the 301 is good for mobility. I like the mid-century modern boxy look of the 301.
A note about the white/tan/mint green FW's not made in the U.S. is that several specifications were changed for those later machines, and they are not the same as the black FW's.
You will enjoy either machine!
Dayle