I understand where you are coming from, but wanted to give my view. I am considering the SW200, but wanted to give a couple thoughts on the Vulcan.
Honestly, I've looked at it pretty close at my local HF, and while I agree that the pulse is a more useful "range", the unit itself just feels cheap. The plastic trim is kind of crappy and feels brittle, as does the machine in general to me. The knobs didn't seem too smooth, not sure if that was because it was a floor model, but the SW200 was also at my LWS. In credit to Vulcan, they do have the wiring diagrams in the manual. The accessories are also pretty cheap, and I thought my Everlast electrode holder and grounding clamp where better than the Vulcan supplied.
Both units have a similar crappy argon regulator. This sells for $900, I guess you can get a discount coupon, that I'm not certain.
In comparison, the SW200 has pretty nice trim on it, it is not as brittle and more durable. The accessories are better quality and while not the top of the line stuff, it's not too bad, IMO. I think the Lincoln accessories are nicer than what I got from Everlast. The knob is really smooth and feels really nice on the SW200. Pedal looked pretty nice on the SW200, not sure about the Vulcan.
But another thing to think about is parts. I have to believe that Lincoln will stock and have parts for a long time. Will Vulcan supply parts? How will that work?
The street price on the SW200 is about $1500 which is close to the MSRP.
As a customer my LWS will service and take care of any problems for me during the warranty period, and it might only be 2 years...but with Vulcan I would need to take it back to HF and deal with their knowledgeable staff.
At the end of the day, aside from the pulse and possibly a couple other minor things...the differences in the construction and the accessories are worth some, as-is local service and durability of the unit in general. I would think seriously about the SW200 before plunking down my $$$s to HF. (and I am!

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NOTE: I know you will say, "we have all of our own accessories we use, our electrode holders, torches, grounding clamps, etc...so those might be a non-issue for a person like you. But you still get the cheap feeling machine at the end of the day. Is my description of the actual machine remotely close to what you see between them?