I've never used The Ehrlund, but it definitely has a reputation as a great pickup. If anyone wants to loan me one, I'd love to do a side by side
I don't think the Band "streaching" needs to be a concern. It's not really a "rubber" band, more like a very flexible plastic. I've had mine for almost 10 years, and it doesn't seemed deformed at all-I would think any streaching or deformation would be visible in the lettering/logo. I DO think there is a design issue is that the velcro on the back has a tendency to work itself loose over time (my little hack does seem to have alleviated this issue though) IMO Headway would do well to find a different "connection" system.
I'm not by any means saying the Band is the end all be all of pickups. In fact, before I figured out the cable tie thing, I probably wouldn't have recommend it to someone looking for a new pickup: it was just to persnikity. I think this small tweak really does make a huge difference, though, and turns The Band into an option I think is worth serious consideration.