I think the Tayana 37 is more numerous and popular, but I can't recall anything bad said about the Allied Princess 36. In fact, it seems a tough little ketch: Allied Princess 36 Reviews and History Photo Gallery by Garry Prater at pbase.com
All things considered, the Princess is 7,000 lbs lighter than the Tayana and all that teak would discourage me. The Tayana has greater tankage and range, but is probably less lively in light airs. Not crazy about that canoe stern, either, but that's mostly taste and the desire for space aft in me. Both boats are quite traditional. Imagine Yachts, Ltd., Tayana 37 yacht
If all else is equal, the $20K you save on the Princess could pay for a complete repower and a new main and jib...something to consider.
EDIT: Found a Practical Sailor review: Princess 36 - Practical Sailor review photo - Garry Prater photos at pbase.com