ill try and list the pro's and cons of each.
Rack Pros:
1. rack mountable, saves desk space for the mp and midi controllers.
2. Expandable, using an adat bridge (can be done on the console version, but without faders, so whats the point of the faders?)
3. cheaper!
Rack Cons:
1. no faders, personal preference. i have the rack with adat bridge, meaning 16 channels, and a MCU control for faders.
2. none i can think of.
Console Pros:
1. well you have faders, i hate mixing in the box, hence the MCU.
2. tactical control with transports, and EQ knobs.
Cons:
1. Takes up desk space and you have cables coming in and out of it. my MCU is under the desk till mixing time.
2. more expensive then the rack.
I like the rack myself, with the MCU. the price comes out to be a little more, but i like it this way. i have the ADAT bridge, so 16 channels of audio and a few digitals. I have 8 faders, with banks selectable. i could alwasy add a mackie expander on it later. the rack is mounted in my rack, so my patching is so much easier.
Rob