The AE212 was nice, but I wanted it a little tighter in the bottom end. A shift towards more upper mids would have made it the perfect cab for me, so that's a plus for the ML112. I was more curious that you would use the ML112 in a 7-piece band over the AE212 which I would assume to be a grand slam in that setting. I usually go for a more pillowy bottom in a busy mix rather than fighting the band by cutting through. However if the ML112 handles it from a volume perspective, then that is promising. I'm just on the fence about getting it versus the ML212 really. I don't really want two cabs anymore. Just a one and done, even if it means I'm overkill sometimes.
This is always a complicated issue. The AE212 will literally blow the ML112 (and any 112) out of the water in volume, low end, everything. That is kind of a 'duh' but there it is.
I do consider the ML112 a 'super 12' like my Thunderchild, meaning it has a driver that has superior mechanical spec's than the vast majority of 'production cabs (the Bergantino HT112ER/HD112 are the exceptions.. but I guess they really are a boutique thing also). My Thunderchild 115 can keep up with my AE212 nicely, the TC112 does not.
That all being said, SO much depends on the style of playing you do, and your tonal preference (and, of course, if you always have front of house). I've been discussing this with my buddy Bruce (B String). If you never slap and don't really dig in, it is amazing these days how small of a rig it takes to do even a large gig, especially if you are a sort of 'bridge pickup tone' sort of player. However, if you want to put a pillow under the band, and/or you use slap style, which can just bring a rig to its knees, I've found that none of the super 12's, nor high quality 210's can do the job.
So, it depends. With these improved 12" drivers from Faital and Eminence and others, I finally can cover any gig with a 212 (in my case, the AE212). That is pretty cool, since most 212's are significantly smaller and lighter than a 410. I can also cover a smaller gig with a single 112 and actually have some real, uncompressed low end!
Again, I would think of a single ML112 as similar in volume to a Bergantino AE210, but with a more open low end and a bit more even in the upper midrange. That is a VERY impressive thing.