Lionel 2026- Which variation do you prefer?

The later version has smoke, too. That's why the same model number, although they are very different locomotives.

Thanks for the correction, Chuck.

The middle version from 1949 is probably the best of them. 

The later version (1950 onward) with the 2-6-4 arrangement had a sheet metal trailing truck, and the earliest version (1948) had a smoke unit hot wire underneath that often came in contact with the ground rails and shorted the engine out.

The middle version (1949) had the wire problem fixed, while still having the die cast two wheel trailing truck.

I'm biased.  My very first locomotive was brought by Santa Claus, at Christmas, 1951 (when I was three).  It was a four-car freight set, pulled by a Korean-War version 2026.

I still have that locomotive, all its cars, its original track and 1033 transformer.  The only thing I've ever had to fix on the 2026 was the smoke unit, which eventually became clogged full of incompletely-melted smoke pellets that my preschool self dropped relentlessly into its stack. Some years ago, I replaced the smoke unit's innards, and it's been smoking happily ever since.

My personal history aside, another factor to consider, for those who are choosing, is that the early version (at least all the ones I've seen) uses contact shoes instead of rollers.  Whether you consider that a drawback or not is up to you.

I like the 2-6-2 version with valve gear and die-cast trailing truck.

For passenger service I like it better with an 1130T small streamlined tender.

I have both but like Ace the early is the fave. I just got this delivered last Friday. Just a little cleaning and polishing and this runs like a champ. Other than the sliding shoes there was very little signs of playwear. Much smoother than the later version I have. 

I think the early version is a nicer engine. However I don't care for sliding shoes.

I like them both, but if I had to pick one, it would be the earlier version.  As has already been posted, the one minor drawback are the sliding shoe pickups.
The earlier 2026 has a rather unique smoke unit arrangement. The puffing is controlled by a cam that is cast into the back of one of the drive wheels. The smoke lever is mounted between the motor's side plates and has a finger that follows the cam.  I don't think any other Postwar locomotive smokes that way.

Thanks for all the replies!

I have the 2-6-2 version and it's a great postwar example. Quiet motor and fantastic smoke output from repro pills or liquid. The only downside is it has limited pulling power. I assume that some of this is due to the lack of magnetraction.

Why are sliding shoe pickups perceived to be a drawback? They work just fine for me. They might actually work better than rollers because they have a larger rail contact area when properly adjusted. I suppose rollers might last longer for high mileage operation, although they can get grooved like sliders.

I once heard that sliding shoes wear out easier. It might be for just certain locomotives though.

Lionelpostwarfan posted:

I once heard that sliding shoes wear out easier. It might be for just certain locomotives though.

Marx locos and others often have plain copper sliders that wear faster. The slider contacts on my 2026 (shown in photo above) appear to be chrome-plated and fairly durable.

I too was a little hesitant on the sliders but after a good polishing with a Dremel brush the loco runs well with no hesitation on tubular track and MPC switches and on the other layout with Atlas track and Ross switches. 

I much prefer my 1949 version 2-6-2.  I got it for $50 a couple of years ago and was my first entry into Postwar Lionel after 35 years in HO.  It created a monster.

I have the 1949 2-6-2 version, which I bought at an antique fair because it looked lonely and out of place, and because I had no PW steam at that time. It didn't have a tender with it. It is a great runner and smoker, and I also like it because it is as old as I am. It is a bit slippery, but runs well with a lighter load. I really enjoy it.

Early, but that's more because I don't care for the trailing truck on the later version. As an aside, anyone happen to have a spare mechanism around? I am working on a custom version that I'm rebuilding shells up.

I only own the later version, my daughter found it at a thrift store and gave it to me for Christmas 2013.  The first train that was given to me, after 45 years of buying my own.

Thank you for the pros and cons of each version.  Maybe I should look for a 2-6-2

The 2-6-2 version - wouldn't mind having one although I question if I will buy more Postwar. My 681 turbine has been a real trouble maker - every time I try to run it, something shorts, breaks, whatever.

I could never get over that goofy looking trailing truck on the 2-6-4 version, especially with two different wheel sizes and styles.