I voted for the Edge- currently own a 99 RMK 700/136 and an 03 Escape 800/159, used to own an 01 700/144. I like the Edge suspension better, handles the bumps better than either Gen2 we've had, and the stock skis on my Escape are a lot nicer on the trail than the skis on my 01 (the 99 is a close 2nd in trail handling). As far as off-trail performance, my 03 will go places easier than the 01 I had for sure, but the 01 was no slouch climbing. The 99 is no slouch either, its actually out-performed my old 01 on a few occasions in the powder. Neither sled is a bad choice, I'd go for which ever one you can get the best deal (not necessarily the lowest price!) on.
FWIW- all the sleds I'm referencing are essentially stock- my 03 has SLP intake stuff but that's it. Stock skis, stock tracks, AFAIK stock gearing on all of the 3 sleds.
Scott- any idea how an 02-03 Edge 800/151 compared for dry weight against the 01 GenII 800/151?