MM,
It's always good to hear the opinion of someone who has run the equipment. I do think that FAE has changed the head and made improvements but I never got to see an older model so I don't really know. I do know the rep and CEO showed up on my job and were very helpful and nice to deal with, a big plus. I also ran a Magnum mulcher for a week (rented and saw a demo by rep), I do like them but the lack of any type of "counter combs" or fixed teeth leaves them behind the other for finished product (my opinion of course). Magnum comes with a Rexroth motor, I don't know how many different models their are of Rexroth motors so they may be different models in different manufactures(Fecon also runs a Rexroth). The FAE I demo'd did start to make a whining noise when it was coming down from speed, I don't know what that was and it only had 6-8 hours on it (may have been nothing).
I recently installed a door on my Fecon, compared to the FAE the Fecon's door flexes under pressure from the cylinder and when a chunk of wood slams in to it. I plan on reinforcing it and adding some sort of teeth for a better finished mulch.
If I had a little more work I'd think about a 140 HP Rayco or Fecon, although I have been happy with the ASV/Fecon (60") so far.
TED