I don't think you will be disappointed there Rain. I had the M-1 hardware keyboard and I can vouch that the sounds are identical. The only difference is you could go broke buying sound cards for the hardware unit and like Mr. OL'Pal says you get all of those free with the M-1 and the Wavestation.
Lately for me I use my old hardware rack synths for a lot of what I do, but then I have never been a died in the wool analog synth guy either. I mostly use em' for fill to something else. You can find some real deals on hardware rack units out there.