I would go for the TG-2 . I think it is far more versatile. You get two preamps in one box and can go stereo. Also you have the impedanmce switch and can switch between 1200 Ohms and 300 Ohms which changes the sound a lot and is great for ribbon mics. The current TG2 comes with the summing mod - where you can route the input of the two channles OTB together. The TG Channel does not have the impedance switch. Also the TG2 has 75dB of gain , the TG Channel only 65dB. I have heard that the pre of the TG2 should have a lillte more mojo compared to the TG Channel when the EQ is bypassed.