In my case, yes, the action (set-up) is the same on the McSpadden and the Folkcraft.
Fretboard width is 1 3/8" on both the McSpadden and the Folkcraft. Not sure if you can special order the 1 1/2" fretboard with either company. I didn't pursue that, because I prefer the standard 1 3/8". VSL is something you'll have to choose. With McSpadden, their standard is 28 1/2", but you can also get the 26", which is what I got. As a chord/melody player, I love the shorter VSL. With Folkcraft, you can get a VSL from 25" to 29". I have their 27" VSL.
I agree with the flathead, all of mine are flatheads. But, some people like the scroll look. It's a personal thing.
Yes, the McSpadden is not as deep, yet it is still right up there with the deep bodied Folkcraft for sustain. Volume is pretty close. I believe McSpadden has a great design that gives such great sound and sustain. If you go Folkcraft, I'd definitely do the deeper body. I also got the galax back. Their shallower body is more of the traditional design.
Both my McSpaddens have the Micarta fretboard. I love it as a great alternative to Ebony. I like the looks, fretboard markers, and feel when playing. It is very durable. I would not get a McSpadden without either the Micarta or Ebony. But that's just a personal preference.
As a suggestion, call each company and talk to them. They are both great to work with. Richard Ash is very helpful (Folkcraft). I have talked to him on several occasions, when trying to decide on features.
Hope this helps.