Some Hobby mig welders have only two switches on the front, '1 and 2' and 'high and low'
Personally, i would avoid these and go for a Mig that has a control knob for adjusting wire speed.
The non adjustable ones will set the wire feed automatically depending on what setting you choose and having owned one of these i would hesitate to recommend one as i always found that the wire speed was often too slow or fast for the application in hand.
don't be afraid to buy second hand. You get much more bang for your buck and providing you find a well maintained machine, you can't go wrong.
I would always say before buying a machine, check out the prices of consumables as these can vary hugely between models and in fact, some parts for some Migs are very hard to find indeed. Besides this, you will find that some Hobby machines can be converted to accept a Euro torch which is a great modification as the consumables for a euro torch are far far cheaper and are more universal between machines.
Another point to bare in mind would be to look at a machine that accepts the large 15KG spool of wire as this works out cheaper in the long run and you haven't got to change the wire as often.
As the others have said, avoid gasless unless you only have a very small amount of welding to do. The disposable gas bottles are ok and i have one on my welding trolley just incase, but the large bottles are the best option. I use Hobbyweld.
My current welder is a snap-on mig 130 which i bought second hand from a mechanic who had it from new.It's quite an old machine but the consumables are still around and it can also be converted to euro torch which i plan to do at some stage.
I paid £100 for it and it came with piles of spares including gas, shrouds, tips, liners as well as gauntlets, auto shield and other bits to.
It works faultlessly and is very reliable for me. I am glad i bought it instead of buying another brand new one. The bloke i bought it from hardly used it also, so it is remarkable condition.
Hope this helps
Ben