Just to throw in my 2 cents:
I'm currently using the latest MEP version; I think 4.2 is the latest. Makman did some excellent work integrating features from the unofficial patches.
I've been extremely happy with it so far. I think the visual detection settings are done quite well and I think the environment is excellent.
Its worth at least checking out the post in the MODS section anyway...
http://www.subsim.com/radioroom/showthread.php?t=204929
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