I’ve owned the same Regal Medallion vise for over 25 years and she keeps on getting the job done. I’ve tied everything from 8/0 marlin flies to miniscule size 28 midge dries in this vise and I just don’t have reason to get anything different.
Regal vises don’t require any adjustments when jumping from one hook size to another. Just open the jaws and put the hook in. I personally don’t see the need for anything other than the standard jaws, although Regal does offer the smaller midge jaws and larger big game jaws… as well as stainless steel jaws. Over 25 years and literally tens of thousands of flies, the only problem I have ever encountered is some rust and squeakiness due to packing a pair of salty flats boots near the vise on a return trip from Christmas Island.