Spend the money GO MIFLEX!!
Agreed on Miflex if it's an LP hose. (You can read my Miflex mini-review here:
Miflex Hoses at www.DiveSeekers.com)
For an HP hose...the jury is still out for me. All the benefits that make Miflex great for an LP hose (thinner, more supple, slicker, flexible, etc) may actually make for a sub-optimal HP hose. If you don't clip off your gauge/console it will flop all over the place - even when pressurized - allowing it to damage environment, making it hard to find, and even creating more of an entanglement hazard. If you clip off gauge/console the hose can still get caught up in itself, other stuff, etc. It's so thin that with gloves on it's hard to distinguish the hose by feel from a d-ring, cord from a stage rigging kit, a clipped off goodie bag, etc. I've actually mistakenly clipped stage/deco bottles to the HP Miflex hose - its that thin that I couldn't feel difference vs d-ring and the clip on the stage rigging easily clipped on to it. (You can imagine the Charlie Foxtrot that would ensue doing a gas switch if you were clipped off thusly!)
For my HP hose I like standard rubber HP hose that "stands proud" when pressurized - easier to clip-off/un-clip, if not clipped it still sort of stays in one place/direction, etc. (True more so with a standard brass-and-glass SPG than a larger console.)
Here's how to install the new hose...
Here's best way to install a new hose if you're unsure or just don't feel like doing it yourself...
1.) Bring reg to LDS
2.) Say "I'd like a new hose, this one's shot."
3.) Shop rings up hose, you pay for it.
4.) Shop hands you receipt and hose, says "Thanks"
5.) You hand them hose back...with regulator
6.) Smile and say "Thanks" back
7.) Wait
Any decent LDS would have a tech swap the hose for you while they were ringing you up - without even asking. But if not, the above approach usually gets the point across.