I've been a long time Merlin owner, had at one time or another the Signature 4's, two pairs of VSM milleniums, and a pair of VSM MX, first with the regular BAM and then the superBAM. Each new model I got was a definite improvement over the previous one, and coupled with Bobby's outstanding service, I was more than happy with them. I would listen to other speakers, but always stick with (or buy new) Merlins.
However, about 3 months ago I went in a different direction, with a pair of Peak Consult Incognito X's. Like the VSM's, a two-way floor stander. I was working on a real review, but wanted to wait until full break in. Anyhow, since you asked what I like more about them, it's pretty much everything. Take all the strengths of the VSM's, make them even stronger, and get rid of the bass 'weakness' (hate to use that term, I've defended Merlin bass in other threads, and will continue to do so). Also, the Incognito's have better WAF, not like I care because I have a dedicated listening room, but they are encased in 1 inch thick solid hardwood (not veneer), and the quality of the woodwork is outstanding (my dad was an accomplished woodworker, so even though i can't pound a nail straight, I know good work when I see it).
I have NOT heard the VSm MXe's, so I can't compare to them, but compared to the VSM MX with the superBAM (and even a prototype tube BAM I had for a while), the Incognitos are much superior.
Like everybody else above, I'm NOT knocking the Merlins. They are great speakers, and I'll continue to recommend them to people. I haven't even sold my VSM MX's yet, I'm considering sending them in for the 'e' upgrade, I just think it would have to be a whopping upgrade to best the Incognitos.
Usual disclaimers here--no affiliation with Peak, etc., etc.