I also have four of the older Star Lubrisizers, and they are great. I don't think they are necessarily any better than the Magma units, and I don't believe there is any difference in materials of construction. I have seen a few reports of quality control issues with the Magma units, but they are rare, and most people who have them are very satisfied.
As for prices, you have to remember that the $195 price for a Magma unit does not include a die or punch, so add another $47.50 to get those parts from Magma. On ebay, Star Lubrisizers with one punch and die usually go for ~$175.....and since they last forever, its still a good price compared to a Magma.