Scotty & Smallgreek-
Ah, the pros and cons.
Electromechanicals. I know it can be a hunt to find documentation for the settings, but you can look in the window and SEE the settings. Repairs? I've serviced thousands. Repairs are few and far between and can be accomplished by a guy with reasonable mechanical skills and simple (though small) hand tools. I never had to worry about the firmware version on a CO relay.
Microprocessor-based... Aside from flexibility, one term: "Fault records". Access to MORE information after a fault has kept me from scratching my head in all too many cases.
I started out on CO's and IAC's,, and they're great equipment, but please don't make me go back.
Mike-
If it's an option, you REALLY ought to look at upgrading to something like a GE SR350 or something in that capability range.
old field guy