Steve,
1500psi is no great shakes for many hard surface cleaning tasks and 350psi is more than enough for most carpet cleaning.
The debate on the relative merits of AO as opposed to VO (airflow or water lift) has been on-going for some time, and many hold totally opposed views.
For most carpet cleaning I consider airflow the more important element, though there needs to bes efficient vacuum potential to sustain that airflow.
Let me illustrate the point: If the wand is pressed hard against the carpet, with any type of machine there will be little or no airflow. No movement within the system means no water removed. Relieve the pressure on the wand and air begins to flow, taking water with it.
The more air that flows through the wand at the wand/carpet interface, the more water is removed.
With portable extractors of each type (AO & VO) the wand technique to get the best from that equipment will vary. Someone who has optimised their technique for the Eclipse (for example), with a maximum airflow potential of approx. 100cfm, if then given (for example) a Recoil with its 300cfm, if addopting the same technique, would not produce the same result. The same would apply the other way round.
I have, and still do, use machines of both types and for general gleaning can produce similar fairly results with both, assuming the same number of vacuum units fitted.
The exception being for flood extraction, where the removal of water from beneath the carpet is better served by the VO machines.
In the last three paragraphs I have referred to portable machines since internal combustion engined TM machines have the potential to acceptable airflow potential and high water lift.