I am pretty sure the HOG is balanced as well. In any case I had a SP G200B on the bench so I ran though IPs ranging from 100 to 140 using a USD Conshelf for a first stage. I ran it several times and charted the results on my manometer as best as I could. While I was at it I also did an old Sherwood Magnum. Here are the results:
IP.............cracking pressure G-200B......Sherwood
140......................................0.625............1.25
130..................................... 0.75 ............ 1.50
120..................................... 0.875 ...........2.0
110 .....................................1.00 ............ 2.25
100..................................... 1.125............2.50
The Sherwood cracking pressure difference would be quite noticeable but the SP is less than 1 inWC across the 40 psi range I ran it through which is way out of the range I would expect even on an unbalanced first stage. It did not drop below 1.125 inWC even at 100 psi, still a passable cracking pressure.
Apparently, the diving equipment companies have been making a lot of noise about having a balanced second stage. What function does this "balancing" perform? I think it is more a marketing technique than any engineering feat.
Now, if you look at the cracking effort above, you will see the Sherwood regulator at just over an inch of water column suction effort and just over a half inch with the interstage pressure of 140 psig. The Sherwood regulator would probably be better at a slightly higher interstage pressure, as all this says is that the spring tension is that much greater than the interstage pressure as it acts on the seat. I have several regulators (Calypso and Dacor Pacer) which have a cracking effort of 1/2 inch (0.5 inches) of water column, and these regulators are over twenty years old. The Calypso is also an unbalanced second stage (the Pacer may also be, but I'll have to look inside to be sure). The balancing includes the seat holder going through an O-ring on the second stage (see the second stage animation in Wikipedia). If you look at this animation, you will see several additional sources of potential friction introduced into the second stage. If not serviced regularly, and well lubricated, this second stage can actually preform worse than the old unbalanced second stages.
How do I know that my Calypso second stages have less than 0.5 inches of cracking effort? Well, in certain orientations, they will leak air a bit. Dacor got away with very low suction effort without the leaking in the vertical plane by using two smaller exhalation valves, rather than one larger exhalation valve. If you will look at this Wikipedia diagram of the second stage, you will see that if you orient the regulator with the diaphragm down, the top of the exhalation valve will be over half an inch from the center of the diaphragm.
So what I am saying is that while the first stage being balanced is very important to performance, because you can balance the interstage pressure against the spring pressure of the second stage, there is not that kind of fluctuation difference between the air pressure in the mouthpiece (pressure of the surrounding water) and the air pressure of the intermediate stage (which remains constant with a balanced first stage). In short, you are being sold a bill of goods.
SeaRat