A verticut machine will raise a chunk of the thatch to the surface and you can bag it up/remove it prior to seeding. If you choose to power rake you better get the big dump truck for all the junk you will have to pick up. We have 2 Classen's and used to have one as a verticut and the other as a power rake. We removed the power rake shaft and now have 2 verticut machines which in my opinion do a very nice job raising a chunk of the thatch without going totally bonkers!
Aerating helps against thatch buildup but both machines are needed if you plan to do much in the line of renovation.
Buddy Rodgers & Son
Since 1981 and growing every year!
If you don't like my opinion...go around back for another view.