As Simon has indicated, the mech is key. "Smooth running chassis", IOW matters far more than the controller if you want slow speed and shunting. And that means older locos need new motors, and often re-gearing, too. Many have too much slop in the rods, etc, which does not make for smooth running, so you may have to do some major work to make an old clunker behave as you wish. Personally, I relegate them to the nostalgia, oops, I mean _display_, shelf.
That being said, controllers do matter. Any of the current solid-state controllers will do nicely. They have ripple at low voltages, they crank down to zero volts before shutting off, they deliver an amp or more, they may have braking and momentum effects, and the newest ones will also control the sound in sound-chip equipped locos.
Have fun! wolf k.