Well, the power supply on the EHX is equally weird (40V buh?!) so I still have to use a wallwart, but the layout of the pedal is much more "normal" and easier to work with on a pedalboard. You don't get all the fancy input options, but the EHX sound quality is pretty comparable. The frequency range is limited by comparison, but well within where I normally use the Frostwave, and is much easier to dial in, especially with the Fine knob. The blend is nicer on the Frostwave, but it works good enough on the EHX. No tremolo with the EHX though, which is half the fun with the Frostwave. The Filter mode is ace, it kills the upper signal while boosting the volume on the lower one, which sounds a lot better than I thought it would. Crazy subharmonic stuff there, nice.
The Frostwave wins hands down for build quality, tweakability, sheer range of tone, and for doubling as a great tremolo. The EHX sounds nearly as good for much cheaper, has the Filter mode, and is much easier to live with for quick adjustments. I'll be keeping them both (along with the Z.Vex Ringtone, though I have yet to really fall in love with that one), because holy hell do I love ring modulators.