There are two primary differences between the models -- the highest resolution of the printout, and the number of ribbons the printer holds.
I have the MD-5000, which has a maximum 2400dpi resolution. I'm not up on the specs, but I'd guess the lowest resolution version is at least 600dpi, still plenty of resolution for decal printing. The -5000 also does photo-quality dye sublimation printing, if you're into digital photography.
The -5000 holds up to 7 ribbons at once. This is handy if you're undercoating or overcoating, or using metallic ribbons for silver and gold. Otherwise it won't make a huge difference.
Also, the models are specific to IBM PC or Mac printer ports, so don't get the wrong kind!
Hope this helps!
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Peter
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