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r_mash-
I don't have first hand experience of either, but I've shortlisted R1 over HY/RD.
The only advantage HY/RD have over R1 (that I could find) is the auto-adjustment of pads and I'm not too fussed about that: it's nice to have, but you have to adjust rim brakes so it's not like you're losing anything.
I also seem to remember reading a number of reports of people having problems with HY/RD: they seem to be sensitive to which lever is used if I recall correctly.
Whereas I've only read good things about R1.
But mostly it's the price: I can't see that HY/RD justify the £70-odd (excluding rotors) difference.
Scilly.Suffolk
?
R1 are £150 a pair (including rotors), HY/RD £110 each (plus rotors).
Those are distributor prices, so you might find them cheaper elsewhere.