I have narrowed my steam engine search to two engines. Lionel Mogul 6-11273 or the Lionel6-11320 Penns'y Red Arrow. The mogul would be a better fit for my layout ,but can I get one to run well at slow speeds. I called Lionel and they said they have not had any trouble with that engine. The Red Arrow is a beautiful engine. Thoughts please.
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I can't help much as regard to which locomotive might be best for you, but the type of transformer that you have can have quite an effect on slow-running capability. Modern transformers such as the ZW-L can improve this quite a bit.
Seeing as their both conventional locomotives performance should be about the same. If I were to guess, the smaller diameter drivers on the mogul might give it a slight edge in slow speed performance.
I don't see any type of cruise control mentioned in the description for either and cruise control is what really gives a locomotive the edge for super slow operation for things like switching and realistic starts.
Having said that a Legacy locomotive will likely give you better speed control because it has cruise.
Depending on your budget, while it costs more the Legacy version of the Red Arrow can be found at good discounts. You could always add a command control system later.
Heres a link to one at a good price:
There is quite a price and size difference between the two. Difficult to consider them equivalent.
Mogul 6-11272 is the only Lionel steamer (out of maybe three dozen) I have had any problems with in the last five years: it was jerky at low speeds - anything below a scale 45 mph. The slower it went to more the jerky stutter in its motion would be. But it did run: so I thought I had little prospect of satisfaction if I sent it in for "repair." Eventually I removed and put the chassis and drive unit in my parts bin and mounted the body on a WBB Baldwin ten wheeler chassis, keeping the tender and sound, etc. (A picture is in the set of photos that I posted on a kitbashing locos thread yesterday).
I can't say that another Mogul won't run splendidly, but it is a small chassis compared to Lionel other bigger dogs included the K4s, etc.,and while I do not have a Red Arrow, I have three or four Pacifics and such that have essentially the same chassis and drive as that loco and they are all splendid runners.
Buy both! Don't decide! 
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