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The Rega io doesn't have any tone controls at all. Unless I had a lot of money and could tailor a system to my room/listening preferences, I'd always opt for tone controls.
Edit - Personally though, I'd pay to get your Technics receiver re-caped. I'd don't think I'd ever get rid of my AKAI. It was my Dad's from new in the 70s, sounds great, and has bunch of stuff that just isn't available on some modern amps - mono and loudness buttons, tone controls, 2x phono inputs, 2x speaker outs. Plus silver and 'wood' wins.
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I do like that second one, and can't argue with that price really. I like having the actual controls for the bass, treble etc in a physical form.
However... it's just such a big boring box of grey.
I think that's why I like the Rega - sure it's not very exciting, but it's also small. There's a couple of refurbed ones on eBay atm for sub-£300...