The 1391401s tend to be the most popular. Those are guaranteed IBM-made, gray IBM logo, detachable cable, no drainage channels, two-piece keycaps.
It's the Lexmark-era models that things start to get inconsistent. They all tend to have blue IBM logos in the upper-left and the drainage channels, but whether they have detachable or hard-wired cables, or single-piece or dual-piece keycaps is another question. (I have a 1370477 made in Jan. 12, 1996 that has a detachable cable, but single-piece keycaps.)
I'd mostly be concerned about whether or not they are in fully working order and have been cleaned (old keyboards do tend to get messy, after all). Other than the few details I highlighted on, there's not really that much of a difference amongst the pre-Unicomp Model Ms.
And if you don't want to deal with eBay at all...I don't really need two Model Ms, to be frank. (The other's a 1391401, made May 30, 1989.) Both are in fully working order and cleaned up. (I'll even do a second cleaning just before I pack and ship, because you can never be too sure.)