John --
I ran an Explorer for a number of years, and now swing both the Equinox, and CTX 3030 (though, admittedly, I swing the Equinox more often; it has earned that distinction, for me, over time).
One thing I still LOVE about the Explorers, is the sound of a deep coin. However, the Equinox has its own telltale sound over a deep coin, that you learn to recognize after awhile. I also prefer the 2-D display (smartfind screen) with FE/CO numbers, as opposed to just one digit. NO DOUBT about that.
But, in terms of ability to hunt well...the Equinox in my opinion does not suffer in any way, in any comparison to the Explorers (or the CTX, for that matter). It's just as deep, if not a bit deeper, it's MUCH faster, and thus better in terms of its ability to separate closely-adjacent targets; bottom line -- it is an excellent machine. I believe, after swinging the Equinox for well over a year now, that my silver and wheat finds are just as good/plentiful as they were with FBS, I find more Indians and old nickels with the Equinox, and I have no more trash in my pouch at the end of the day, after an Equinox hunt, versus an Explorer hunt. It's definitely a machine worth considering, if you like the Explorer...
Just my 2 cents.
Steve