Hi, William:
I dive an Atomic B2 reg. & a Cobalt 1. Drawing on a range of thread on the forum, here's my 2 cents.
1.) Some people prefer diaphragm-based reg.s for environmental sealing in cold water diving, over piston reg.s. The Atomics are piston reg.s. The recommended service interval is longer, but when dipping in the rinse tank, don't put the 2nd stage & 1st stage in at the same time in a way where water could enter the 2nd stage & head up the hose to the 1st stage and get where it shouldn't. Or so I've been given to understand is the case when the reg. is not pressurized. Not much hassle, but be aware. Some of the higher end (expensive!) Atomic reg.s have more titanium, slightly less weight, I'm told breathe about the same, and for many of us aren't worth the cost difference.
2.) I love my Cobalt 1, even though I had to get in-warranty service for a button malfunction. Long-lasting rechargeable battery that I don't have to open the case to charge. Very large capacity dive log storage. An intuitive interface that's wonderful, coming from my Oceanic VT3 wrist unit (for which I generally need to consult the manual at the start of every dive trip to set nitrox, if using it, and the manual is not a pleasure to work with, either). Nice display that's easy to see at depth; just not so much out in direct sunlight. It's not so much that it will 'do' much that other computers won't, but it's such an easy pleasure to use. Even if it seems to consistently give temp. readings that are too warm.
But some people love wrist units. I can understand that. I still wear my VT3 so I can glance at my wrist & see my gas pressure (air-integrated), and with 2 dive computers, I've got redundancy if one malfunctions. There are wrist units with beautiful color displays and I think fairly intuitive interfaces, but their battery life tends to be worse (some far worse) than the LCD units like the VT3, and recharging or replacing a battery means opening the case to get at it - so you risk doing it wrong and flooding the thing. Changing the battery in my VT3 stresses me, but I'm not 'handy.'
So, for a console, I think the Cobalt 2 is a fine choice. You do pay for 'fine.' At some point, you may want a wrist unit. People with non-air-integrated wrist units, or AI units who want a backup in case of transmitter failure or the like, often have an analog SPG, and an AI console dive computer can serve the same function.
If I wanted a console cheaper than the Cobalt 2, I'd look at the Oceanic ProPlus 3, but I'm telling you, if the cost difference isn't too painful, and you do like consoles, the Cobalt is sweet.
Richard.