The issue with the Collins is that you have to match your vertical speed with the vertical speed selected on the VSI (with no markings on that knob, of course!). I imagine once you get to know the airplane well, it would become instinctive.
My airplane not only doesn't have Altitude Preselect, it doesn't even have a pitch controller! You have to set the pitch attitude using the control wheel steering button, and when you release the button, it just holds that attitude. It does have IAS hold, which works pretty well in smooth air.