I'd say - in retrospect, because I'm not drinking the same kool-aid that some of the other posters in this thread are - that the 1200 should've gone out with an 030 on board and a SIMM socket with a 1, 2 or 4mb SIMM therein.
The 4000...hmm, that's a tough call. PCI hadn't quite arrived when the 4000 hit (PCI debuted in '93, the 4000 in '92). So in lieu of that, I'd say: better IDE, 16 bit sound and although it seems a small thing, a button battery instead of the barrel battery that seems to cause so many problems these days.