Hi BridgeHunter,
You want to "hunt old houses,the beach, Pensacola and Gulf Shores, and around creek bank sandbars". I have both units and both could be set up to work well in these locations. The E would be easier to set up than the V every time. But, if you know the V you can make it shine where other detectors fail. This is, simultaneously, the V's greatest strength and its greatest weakness.
I tried the V's Salt Compensate method the other day and I was very impressed (as a previous XLT, DFX user)...worked very well (no falsing - except at VDI3 from salt or mineral concentration - I no-tone'd it...might be unique to Galveston). So, salt should not be an issue with either unit (Minelab's have always handled salt well).
Two main considerations - Both units say, in the manual, that they recommend a 2 second sweep speed from one side to the other. With the Minelab, it is advisable to never exceed this limit or you risk missing targets. The E-Trac will not even notice a target if you sweep too fast. The V, on the other hand, can be made to handle a very fast, or slow, sweep. Second consideration is TID at depth. The Minelabs excel at this (for the E-Trac, the CO value is almost always right on). The V, on the other hand, may see a VDI fluctuation or the VDI may be dragged down towards the ferrous part of the spectrum. This difference is due to the different discrimination methods used by both units (1-D, or a line, for the V and 2-D, or a grid, for the E)...suffice it to say that the V only uses the phase angle of the target and the E breaks the phase angle into two parts, the conductive and ferrous components. Both have their advantages.
There are plenty of threads about this but there is no subsititute for getting both in your hands, using them and making an informed decision prior to plunkin' down the cash.
Beep