I agree with Outrider re: the stitching - in fact for years the Ferdco machines won the best stitching award from the Harnessmaker's Journal.
Also the Ferdco is a bottom feed machine so the stitching is still controlled by a feed mechanism and not just by hand alone, if you're gluing your parts together first anyway a walking foot is not absolutely necessary at all and can in fact at times create problems with marks on the top surface. And with a speed range of 0-800 SPI they are very controllable.
As for getting close to the edge - they offer different feet setups (just go to their web site) for that and even without it I've used them quite successfully. IIRC the R denotes it's reversible allowing a backstitch, which is nice, but not absolutelly necessary
Also I used Ferdinand/Ferdco machines in various shops for years and they are one heck of a machine so if you can pick one up don't despair and like any other machine out there there is a learning curve.
BTW - technically a stitcher is a needle and awl machine like the Campbell-Randalls, Landis #3, and Union Lock Stitch machines that can use linen thread to sew with and my preffered machine but then again I only make period gear these days and that ability counts in my market (actually I mostly sew by hand again due to the market place I specialize in) . Yep a lot of manufacturers apply the term stitcher to sewing machines, but for old timers like myself it tain't so (or is that sew :les: )
Cobras, Artisans, Adlers, Jukis, etc are also fine machines and I've used them all at one time or another in the last 50 years, but the quality of the work that can be done with a Ferdco is right up there with the best.