External speed controllers are in theory better since they are usually mounted to the table (less vibration) and physically larger (better heat dissipation). Both of my Bosch 1617's are models with straight switches and I have been trouble free with my speed controller. The only thing to watch is if you are using one of the 3-1/4 HP routers; they can use over the 15 amp limit of the HF controller. There are other brands available which handle 20 amps.
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