Genset AND I/C
Think about what you use these two different items for when cruising. The ONLY AC you'd have with only a charger would be the genset. Now: you want to heat up your coffee or use the microwave for less than 15 minutes. So, do you fire up the genset for that? If you had the inverter, you'd just pop the switch and run the microwave. Most folks I've heard of use the genset to charge their batteries in lieu of using their engines. If you can manage your genset use to coincide with your microwave use, then go for it, but it's doubtful. We use our microwave when sailing, too, and I doubt you'd use a genset when moving.Other issues: separate vs. combined inverters and chargers. Yes, there is some merit in having separate units, but experience indicates that since they are solid state either they crap out in the first 10 minutes or last for their intended lifespans. Our Freedom 15 has been working fine for the past 9 1/2/ years. An inverter is just the charger operating backwards.I mentioned battery bank capacity in my last post: to actually be comfortable in using the inverter, which takes 10 times the amps out of the bank than a 12 volt load, you MUST have adequate house bank capacity to support the loads you intend to use. Dinky 200 AH house banks won't cut it, unless you intend to install the inverter and then never use it!

Do an energy budget including the A.C. loads via the inverter that you intend to use to properly size your house bank. A small house bank supported by a generator, I think, is nonsense. The largest house bank you can install will increase the longevity of your batteries, as well. See Calder's Boatowner's Manual.If you get a combined unit, you'll find that the charger side is much more powerful than a standalone charger. Our Freedom 15 has a 75 amp charger side, while separate chargers are usually 20 or 40 amps. Thus, you'll have an additional reason to have a robust house bank, since you don't want to have an over-sized charger compared to your house bank.Most I/Cs are now made with echo chargers, so you can safely charge your start bank without overcharging, and use the PDP as the point for connecting other charging sources (solar, alternator out) using the echo charger and avoiding extra separate combiners, echo chargers or relays.The things you have to base your decision on, including how YOU intend to use the boat, are basically cost. When we made our decision back in 1998, I compared the basic cost of the equipment: combined I/C vs separate units. But it is imperative to note that you HAVE to add in the cost of an isolation / transfer switch to assure that ONLY the (separate) inverter OR shorepower can work at any one time. These switches can be cobbled together with parts or bought as Blue Seas #8032 (see: http://c34.org/bbs/index.php?topic=833.0) These cost about $150. Transfer switches are built into the combined I/C units. So the cost difference between the two is not so different, and my recollection was that separate vs combined was pretty close, even including the Link 2000 I bought with the I/C package. Of course, the Link 2000 is overkill and a Link 10 would suffice to manage your house bank, but the Link 2000 also is a controller for the combined I/C.Andy, there are lots of choices out there, but only YOU know how you'll use your boat, what your own capabilities are in installing and operating these gizmos, and what your budget is.