I should start by saying that when Lionel started coming out with better Standard O freight cars in the early 2000's, the catalogs didn't do them justice. It wasn't until I bought the cars and took a closer look, that I realized how nice they were. Same goes for Standard O engines (TMCC & Legacy), they always looked better in person. The catalogs never pictured them as nice as they were.
Just curious, what do you prefer and why? I've started to sell off some trains and I can't decide whether to sell them as new in a sealed shipping box or open the box for pictures. When I sell the sealed shipping box, I use the Lionel catalog picture which is usually not as nice as a picture of the real thing.
Here's an example, Lionel Wabash Mogul
Lionel catalog picture
Or a real picture of the engine.
Back when I collected, a sealed box held more value. (Although one didn't know the condition of what was in the box. There could have been rust, etc.) I don't feel anything made after Lionel sold out to General Mills is a collectable, but that's my opinion. However, I do feel that there are items that are rare, or very hard to find made after Lionel sold out.