Ryan,
I have a '95 Sunsetter LX (teal of course!). Same boat as the 97. I have also ridden a PS205. Both are nice boats. I think the Malibu wake is better and requires much less weight, especially if you have the wedge. The MC makes a great wake, but just requires more weight than the Malibu. The Monsoon is a great engine as well.
I heavily considered the PS205 when we got our Sunsetter, and the key reasons I chose the Malibu was the interior space and the wedge. The Malibu is a much wider boat and you can fit 4 boards on the floor up against the sides of the boat. This is not possible on the MC. Also, the passenger seat on the Malibu will seat 2 comfortably, the MC passenger seat is much smaller. Both are quality boats...
I have no experience with the Sanger..
Good luck.
Here are some pics of ours...