Sorry YJ I don't have the smith myself. What is different about the meco is that the ends can be changed, so you can have a huge range of tips for about the price of one tip, in a victor. Of course the single purpose tips are a little neater, but it's the flame I am working with not the tip.

One point tinman makes in a video is that the +/- accuracy range of the regulators blows away pressures in the range we are using, fagetaboutit. They have a traditional way of adjusting the gas by feel and you don't use the pressure gage. Good gages are still important for flow and safety, but I wouldn't worry what they say. The basic technique is:

http://tinmantech.com/html/meco_midg...ch_setting.php

None of the torches are all that expensive, and if you want one for cutting I would just watch Craigslist where they come up around here regularly. You need a really small orifice and a handy torch for brazing. Don't be tempted by a cutting set-up or even something midway between. You will lay out the cost of a torch just getting the orifices you need, and that money will just be a stopgap.

If you want to save cash you might try Freddy Parr, he has second hand Smith stuff in the bike sizes when he has it.