UPDATE
Alright, here's my own personal experience during the Pro-96/Pro-97 Pepsi Challenge
MILAIR
There were quite a few times when the tower was talking to a B-1B, I could hear the tower on the Pro-96, but the B1-B's transmission was silent. The Pro-97 picked up both sides of the conversation.
SIGNAL STALKER II
This was a mixed bag. Sometimes it picked up nearby signals, sometimes it was deaf. For example, the city police radioing in across the street? Picked that up. However, I actually brought in the Pro-97 into the gym where they have a 900 MHz wireless broadcast of four TVs on the wall. The exercise bikes have a receiver you can plug in your headphones and listen to the TV while you ride. Anyway, the Stalker just didn't pick it up. I was able to find the stations doing a normal scan.
Often the Stalker would just pick up totally unlistenable frequencies (encrypted, digital, who knows). I guess that's the gamble of Signal Stalker. Sort of like metal detecting, right? You have to find a lot of pull tabs before you find a gold ring. Further investigation will have to be done to see if the Stalker is really worth a damn.
OTHER OBSERVATIONS
Thanks to Win96, the Pro-96 can pick up quite a few frequencies that would put an "Invalid Freq." on the Pro-97's screen. Now, many of these frequencies are of questionable usefulness...stuff like celluar images and that sort of thing.
BOTTOM LINE (as of right now, anyway)
Now if I was given the choice if I wanted a Pro-96 with better milair sensitivity or a Pro-97 that could pick up digitial...
I'll take the digital Pro-97. I'd take the 16 character display over V-Folders any day.