Eh, I disagree with Killer Kane.
I haven't had experience with every rapier maker out there, but MRL is okay. Not the best by any stretch, but okay.
If I had to rate them numerically, I'd put it like this.
Tied for First place,
Darkwood Armory and Del Tin. (I haven't used an Angus Trim, but from everything I've heard, they're at least the equal of these two, maybe better.)
Darkwood uses Del Tin blades and makes the hilt to your specifications or you can choose to have a hilt assembled from their stock designs, with choice of hilt, quillion style, pommel shape etc...
I prefer Darkwood only because I like their hilt selection better than the stock Del Tins. It's a matter of taste only.
After that, I'd say a close second would be Scottie Armory
Then you get to Museum Replicas Limited (MRL) Deepeeka aka Windlass, and Hanwei.
MRL is of a slightly better design than Windlass or Hanwei, but their construction methods leave them on an equal footing quality wise.
Some of the Windlass rapiers are pretty good looking, the Stainless Swepthilt comes to mind, (but I understand this one has been discontinued.), and if you intend to keep them as wall hangers and air cutters, go for it. My only problem with them as real "beaters" is that the blade profile is so thin that repeated de-burring after a duel will thin the blade to the breaking point rather quickly.
Hanwei rapiers are generally not as pretty nor quite as fast in the hand as the Windlass, because the Hanwei blades have a much thicker profile. This makes them ideal however, for extended dueling. I've been using my Hanwei Pappenheimer a long time and it looks to have several years of service left in it before the blade needs replacement. The hilt is standing up very well indeed!
A very important consideration in buying a sword is not only what sword you buy, but where you buy it.
MRL has an excellent return policy. I've seen rapiers that were fought with for a couple months break, and then be replaced by MRL at no charge. (other than shipping of course.)
By the Sword is also a very reputable dealer, and will do their best to make you happy.
Many people deride dealers for the practice of marketing a sword as "battle ready" but IMHO, it is a service to the swordsman when they do so.
If a sword is sold as a "wall hanger only" (rare, but I've seen it.) you can't complain when that sword snaps like a toothpick when you try to use it.
However, with a blade marketed as battle ready, dueling is not considered "abuse" but rather "normal use" and it should not break under normal use.
By all means, if you have the money, go with Angus Trim, Darkwood or Del Tin, as a user, they are worth the extra cash, but if you're truly just looking for a wall hanger, save the bucks and go with the Windlass/Deepeeka, the MRL, or the Hanwei.
I use a Hanwei sword and a Del Tin gauche.
When I bought the Hanwei, it was because my funds were limited at the time. I plan to buy a Darkwood Rapier as soon as this Hanwei breaks, but it just keeps going and going and going.
I might have to break down and just pre-maturely retire the Hanwei, and hang it on the wall. I find that after around 300 duels, it has developed a rather charming character. Or maybe it's just that I can see the fond memories in all the little scratches, dings, and dents.
Any more questions, feel free to ask!