I don't think I can add much to the excellent comments already offered. I picked up a 1200 shortly after my A4000 headed off for a refurb in France a few years ago. I used the A1200 after I received the repaired A4000 since the 1200 had more memory.
I prefer the A4000 but then I've always preferred big box Amigas. During the Amiga's heydey my prime machine was a hacked-up A2000. That said, the number of options to upgrade your A1200 seem to be more numerous and less expensive.
You could always do what I've done, do both. Just don't try to do all the upgrades at once! Look around and buy wisely...
Best of all, have fun!
Bob