They are most likely very close in performance, maybe one has more power than the other. But both radios are what they are, the basic same chassis as most other new export radios being sold today.
If you want a good AM radio get a cobra 29 or something like that. You want a good SSB radio, spend a few more bucks and get an HF radio. The exports are nice, but there comes at time when you realize there are much better radios to be had for not much more and heck some even cheaper when bought used. I am sure the magnum 1 will sound good on both AM and SSB. If you want more power, have a good amp built. For what it's worth, by the time you have bought 3-4 new export radios. You could have bought a pretty nice HF radio used or even new. Wouldn't surprise me at all!! Been there and done that. There are a couple of exports radios I would recommend, I think that the are a few left that were found in a forgotten box, from the dealer. Yeticomm LTD, he is a member and should be able to tell you if he has any I believe. I could be wrong, but I think there are some left. None being made like I said, just some found. The optima MK3 is that radio. The other would be an uniden 980. That is about it. JMHO. But even the optima mk3 isn't like some of the other exports as far as loud audio. It's almost an SSB radio as well. But set it right and it will work on AM. I'll leave it at that. Check out the ad below. I just looked this up, so it should be current I would think. Have a good one and good luck with whatever you choose.