I tried to reply for you yesterday but the server gagged and fell over. Don't know if it was my prose or just the flu.
Anyhoo: I have a Memphis Advantage and a Traeger 075 (New Old Stock, American made). I use both and together they account for about 90% of my cooking. I became a predominantly pellet cooker about three years ago.
The Memphis is well insulated, has great capacity, and great range. It will smoke low and slow for hours and hours or I can goose it up and sear steaks at 600+ degrees. My only complaint with it has been grease clean-out and that has been fixed on newer models. The Traeger is really a smoker only, but will edge toward 400 on a good day (enough to grill burgers). It doesn't have the steadiness or control of the current generation of pellet cookers but is still very useful.
What new pellet cooks need to know is that it takes a "transition" of sorts to convert to pellets from charcoal or sticks. Pellets smoke only at low temps by using cycles of the controller to create "smoulder" periods. Conversely, at higher temps they burn cleanly and don't produce much smoke, although some flavor woods such as mesquite will come thorugh in grilling. For convenience, a pellet cooker is much like a gas grill -- you can fire it up and go. Unlike a gas grill, howver, it will impart wood flavor to the cook.
Over the years (some as a moderator on another forum devoted to pellet cooking) I've discovered one great truth that anyone considering a pellet cooker needs to know: Pellet cookers will not create heavy smoke flavor. They impart light to moderate smoke easily, though, when you learn how to cook on one. This characteristic causes problems for about 25% of their users -- the ones who demand heavy smokiness in the groceries. If you like what I call "creosote belch" (lingering smoke) level smokiness you'll be better off with either a stick burner throttled back to smoulder heavily, possibly using some green wood in the mix, or with another heat source (charcoal, gas, electric) smouldering chips, chunks or biscuits of hardwood constantly.
Final advice: Buy good pellets! There are getting to be a lot of good brands, finally. Some pellets are 100% hardwood and some are mixtures. Both have their purpose and place. Avoid cheap lower quality pellets like Traeger and off-brands. Never, never burn heating pellets.
We have several very experienced pellet cooks active on this site. PM any of us if you have specific questions.
Hub