nyprrthd:
My wife and I both dive Dive-Rite TransPacs, and love them. BP/wing purists will probably scoff at me, but IMHO the TransPac gives me the best of both worlds. It's nicely padded, and gives me a lot of adjustment options.
I used to dive a Transpac II before switching to BP/Wing, and I really liked it. I found it to be a huge improvement over the SeaQuest jacket I had been using before that. While I won't scoff, I'll offer some counterpoint in order to help the original poster make an informed decision.
While I agree that the Transpac has great padding, I think of the padding as an undesireable thing for three reasons. First, it's bouyant, and as far as I'm concerned having less weight on my belt makes me more comfortable than adding "poof" to my BC. Second, the padding absorbs water, which makes it take longer to dry, and makes it heavier and soggier until it does. Third, I haven't found the padding to be any more or less comfortable than a metal backplate, which not only is designed not to touch your spine at all, is fairly comfortable on land, and almost unnoticable in the water, but is non-absorbant and will let you reduce, instead of increase, the amount of ditchable weight you carry.
As for adjustment options, a simple hogarthian harness (a single piece of webbing threaded through the slots) can be adjusted to fit anyone from the most petite to the most obese diver, and once fitted will continue to fit that person unless they change shape, at which time it can easily be adjusted again. I don't adjust the fit of my wetsuit, mask, or fins when I put them on... why should I want to adjust the fit of my BC? I'd rather just know it's already the right size when I put it on. In addition, the simplicity of the hogarthian harness does allow you to adjust the location of your buckles and D-rings to a much greater extent than the Transpac does. Also, when I started diving dry, I found the adjustable chest strap on my Transpac was in the way of my drysuit inflator valve.
Your mileage may vary, but consider that there are pros and cons to most features before you decide you want or don't want any of them.