I have both the HPC pick shown and the peterson pro-1a. (by the way, southord now makes a pick like the HPC, and it's about $50 cheaper for the set of 7 +
The main difference is time. WIth the HPC, I can open a generic or ace in about 30 seconds. Some (30%) of the ACEII's will open in about 90 seconds (especially if they have been outdoor locks).
With the peterson, even an easy ace or generic takes 10 minutes or more. Admittedly, I'm not an expert on using it yet, but even on locks I know the settings for I have a hard time, and usually have to repick it several times to get the settings locked in. In short, while the peterson is nice, I could live with the HPC