This was discussed last year when it first came out... the Vegas comm is a nearly exact copy of the Master Replicas
That's the Vegas on the left with its shiny shell, and the MR on the right.
The Vegas is a little "cheaper" looking, with its chromed pieces and inexplicably painted flipgrid. The grid is brass underneath tho, so if you clean off the paint you can make it look authentic.
As I said the black plastic shell is too shiny on the Vegas, and the haircell texture is going the wrong way (vertical, should be horizontal).
The worst thing about the Vegas is the horrible sound quality.. it sounds like it was recorded from an MR being played over a cell phone. (somebody, I think it was Hyperdyne, determined that the actual sound chip in the Vegas comm IS in fact capable of great-quality sound reproduction, and it's only the fact of the crappy recording that accounts for the poor quality sound.)
The moire also spins at a different rate, and if I remember correctly the opposite direction, than the MR moire. I think somebody said the Vegas comm is actually the accurate one in this regard.
The Vegas comm's flipgrid doesn't go back far enough when opened (tho if I remember correctly the MR in the following pic has been modified so the grid goes back farther than normal)
The lights work the same on both comms, tho to get the "static" sound effect you only have to push the button, not fiddle with it like you have to do on the MR. A minor nitpick: the buttons and "jewels" sit a little too high off the face of the comm on the Vegas (that is, their bezels are too thick).
The Vegas also tops the MR in cheesiness, in having the button on the back to activate the "boop boop" call sound, shaped like the accursed "delta shield" Star Trek symbol instead of the only moderately annoying oval on the MR.
The profile of both comms is the same as well. In fact the "butt" of the MR/Vegas is NOT as incorrect as most people seem to believe; in fact it's the "top" of the comm that is too NARROW; this gives the unit a "pear shaped" aspect which looks wrong.
- k