Given a choice between a new Leisure pro reg and a used freshly serviced reg for sale at the local dive shop, I'd probably go with the reg in the local dive shop assuming it was in very good to excellent cosmetic condition.
For one, it will be properly adjusted and tuned for peak performance while the L-P reg has probably been on the shelf awhile since it was factory assembled. It it has been sitting a year or more with pressure on the seat, it may not make the first annual service without needing adjustment or service. And your LDS will not be overly impressed when you ask them to fix your new L-P reg.
At least if you buy the used reg from the local shop it willbe sold freshly serviced and tuned and they will most likely do any adjustment needed for your specific tastes for free and will not treat you like dirt when it comes in for annual service. The good will you gain with the LDS purchase does have value.
Also, smart shop owners will do an in house warranty for the first year or two and will often throw in free annual service parts during the warranty period.
A used reg often ends up being a better deal in the long run than a new L-P reg for similar money.
Shops that take trade in regs are able to compete a bit more effecitvely with L-P and other grey market vendors as they can use a generous trade in allowance to work around dealer price restrictions and give a steep discount to the customer on a new reg. Then they can sell the used reg to a cash strapped diver as a way to get him or her into a better reg than they could otherwise afford and can create a loyal customer who will come back to them, trade in reg in hand, when they want to upgrade. Done, well, everyone wins.
And that is an aspect of re-sale value no one has considered yet - if you buy the reg used and sell it or trade it in for a reasonbale allowance, you really lose very little money on it assuming you have properly maintained it and generally kept it in good looking condition.
E-bay is another matter. Some of the regs are real buys while others have serious and unknown and/or undisclosed issues. If you buy on e-bay know exactly what you are getting, stick with a brand you can get serviced locally and that is either current production or is an SP or Aqualung reg to ensure you can an still get parts for. Then bid on the assumption that at a minimum you will have to pay for a full overhaul at your local LDS.
