I had a relatively short audition (~15-20 minutes) between the Hugo 2 and the SP1000 today. Listened to them with an HD800 and a Kaiser Encore.
In short, I think the Hugo 2 presents vocals in a more natural way. The SP1000, while clear, detailed and oh-so-awesome, somehow recreated vocals with an odd, overly expansive vocal presentation. The Hugo 2 sounded a lot more natural to my ears (on the white filter). A friend agreed with me on my assessment - he too, felt that the Hugo 2 was a small notch above the SP1000. Of course, we'd need a more thorough audition to better separate the 2 in terms of technicalities, but as it stands, I'm glad that I bought the Hugo 2.