The 18 and 20 Watters are not really THAT different, but the effects of the 20 Watter's solid-state rectifier are far-reaching. It gives the 20 Watter higher voltages throughout. Most people prefer the 18 Watter, but I like my "13 Watter" with its SS recto.
Overall, the 18 Watter is a bit more compressed and responsive due to rectifier sag.
Warning! Master volumes do not work all that well on 18 or 20 Watters. Due to their simple design (one preamp stage->phase inverter->output stage) there is not a lot of gain in the early stages. Most of the 18 Watter's overdrive comes from the PI driving the snot out of the output stage's EL84's (yes, that's the proper technical terminology). Even a post-PI MV won't work, since it removes PI gain, and the resulting output stage overdrive.
The good news is that since they are fairly low-power amps, load attenuators are cheap. I have a Weber mini-MASS that works great and only cost $75. Other folks have had good results with a simple L-pad speaker attenuator from Radio Shack that only costs about $10. These work fine on an 18 Watter, whereas a normal 50 or 100 watt Marshall would burn them right up.
As to whether the 18 and 20 Watters nail true plexi tone, I'll leave that question to others, as I've never really played a plexi or any classic non-master Marshall. I will say that I like my mongrel "13 Watter" more than any of the JCM800's I played back in the 80's. Also, search 18Watt.com and AX84.com for threads comparing 18 to Plexi to November. (The November is an AX84 project plexi-with-EL84's. Lots of folks like it, but the 18Watt guys tend not to have much nice to say.) The AX84 "P1 Extreme" is also reputed to do classic Marshall pretty well, though it's a single-ended amp.
Definitely try it before you buy it. Anyone near Houston is welcome to come over and play my 13 Watter anytime. If you're not near any of the manufacturers of 18 Watt clones, at least get to a GC and try out one of the reissue handwired Marshalls, whether you intend to buy it or not. That will give you some idea of how they sound.
Good luck with your quest. Post here or e-mail me if you want to talk more.