Equinox for sure. Its lighter, cheaper, and has a better warranty. You can easily swap out the headphones and coil. The only thing I like better about the Excal are the tones, I am not a fan of the beeps you get with the nox/ctx. I've replaced my CZ21, Excal, and CTX with just a Nox 600 and couldn't be happier about it, though I do miss those other machines.
Having said that, pay close attention to OBNs post - out of the box, the nox is going to win. If you are like him and want to modify the excal with better headphones and such, the excal could be a better machine. But it voids warranty and the machine is still much heavier than the nox. It also requires some technical ability to do the mods unless you are paying to have them done.
Regardless, the machine is only 1/2 the battle. Both are great. You aren't going to go wrong with either one.