While I certainly don't have the knowledge that many posters possess, such as Bob3, I've done my fair share of rebuilding regs over the decades. My experiences have shown that if one purchases a reg from one of the major players in the market then you can expect a quality product that meets the needs of 90% of the world's divers.
That being said....I own and dive Mares regs. I have also recently acquired an Apeks TX50/DS4 that I will soon be getting wet. While I'm not displeased with my seven Mares regs, I am merely trying the TX50 for some of my technical based dives to compare its performance and service to the beloved Mares models.
I like the rugged simplicity of the MR12 first stage, but have become quite enamored of the MR16/V16 first stage due to its superior hose configuration. The spherical core seal system is reportedly holding up longer than the traditional HP poppet system (a somewhat general consensus among Mares techs). I personally rebuild my regs when they have approx. 100 dives, but test them for proper operation at least every 10 dives. NOT once have I ever had a problem with any of them. I trust them completely whether I am gliding along over a reef or deep within a wreck at 150'. They are simple, robust, and perhaps most importantly, RELIABLE. The fact that they are simple, yet offer excellent breathing effort speaks for itself.
A reg such as the Apeks TX50/DS4 is a specialized tool. It does offer the adjustability that the Mares models do not possess. My dives have always been more than adequately met with the Mares models. My acquisition of the Apeks is not an admitance that the Mares regs are inferior. They fill the needs of my diving in a sufficient manner. The Apeks will most likely be used when helium based mixes are used, or when conditions are very demanding. The adjustability does play a role when the gas density is a factor.
Buy quality gear and maintain it well....It is life support equipment.
Greg
Former Science Editor for Rodale's Scuba Diving Magazine