I own a TD 124 beige, and I'm very happy with it. I'm using it with an SME 345 and Koetsu Black with excellent results. I rebuilt the motor with new felt and bushings and installed new spindle bearing bushings, silicon nitride ball bearing and thrust plate. The next thing on the list is a chassis refinish, if I'm up to the task.
It replaced a Diva II with the same 345 arm I'm using on the Thorens. They're more fiddly than a modern table, but well worth it.
I've not heard the 401, but I've been told they have more bass slam, but without the refined upper frequencies. I'm sure that's subjective.