Ive had them all... I currently have the Fender EVH and a Peavey 6505+ ........The lead channels sound almost the same. The EVH is a little darker, smoother yet not as clear as the peavey.. The original peavey 5150(6505) non plus model is the meanest sounding of the bunch, most aggressive and has more lowend than the other two. If you want the most brutal metalz tone go with the original non plus version.
The clean channel on the Fender EVH isnt any better than the clean channel on the 6505+ IMO, the 6505 clean channel is not really a clean channel, if you are looking for clean cleans stay away from the original 5150(65605)..
I would say the best crunch tones come from the blue channel on the EVH. If you need most versatilely go with the Fender.
All 3 of them are prob my favorite line of amps of all time and Ive owned Diezel, Soldano, Bogner, Fryette, Engl, Mesa etc etc .. They can hang !