I guess it depend upon what features of the B&C linear regulator are important to you. In addition to the field-adjustable voltage regulation, the LR-2 and LR-3 also provide instantaneous "crowbar" high voltage overprotection by taking the alternator offline, and lastly provide low voltage monitoring with a visual annunciator. The LR-3 model also employs a battery temperature sensor that shapes the charging curve and voltage taper.
I bought my LR-2 more than 30 years ago when I needed really clean linear regulated power due to the sensitivity of Loran avionics (predecessor of GPS). The LR-2 continues to operate flawlessly, as do the three LR-3 regulators I've installed in my later homebuilts. I have well over 6,000 aggregate hours on my own B&C LR regulators - and never a failure. As noted above, B&C's stellar customer service continues through Nathan Bainbridge in the manner instilled in him by his father Bill.
This is experimental aviation, and I like innovation and saving money as much as the next guy, BUT..when I can retire risk by selecting equipment that might keep me from having a **very bad day** while flying night, IFR, over water.... I'll make the choice every time.