Count me another happy Hydros user. On the bus back from a dive trip with a couple BP/W divers - all I can say is I'm extremely happy with my decision. Now, I don't think there are any features that I couldn't get from a BP/W. Except maybe the grippiness, the whole thing being monoprene makes it super stable.
Maybe it cost a couple hundred bucks more. I didn't have to spend any time on assembly or thinking about what I wanted or how it should be set up. Came with a perfectly sized gear bag, fits fantastic, sits upright on the surface, excellent trim underwater. Has all the benefits of a BP/W and none of the drawbacks.
If you don't like it don't buy it, but if you can afford it it's a fantastic rig. Last thought - it irks me when people call it a jacket. It isn't. It's a BP/W, the only difference being that the backplate is molded out of hard plastic and monoprene.