Initial thoughts on my MIT HM-2 vs. BYOC Swede:
Overall - This is the closest thing to a perfect clone I have ever heard. The biggest difference is in volume. My Swede always required the volume knob to be further than the HM-2, but with plenty of travel left (about 1ish). Th Swede seems slightly less compressed, and at identical settings slightly more trebly (though less trebly than my DOD Super American Metal) on guitar. This could also be due to component drift over nearly 30 years of use on the HM-2. With a little knob twiddling, I got tones that were nigh indistinguishable from each other, and likely indistinguishable in a mix. Noise level for each pedal is comparable, though I would venture to say the Swede is a tad noisier (again, component drift losing clarity on the HM-2?).
Guitar - more volume necessary than on the original, more trebly, slightly less compressed than the HM-2.
Bass - I could tell no difference between either pedal on bass. The tones were identical to my ears, even more so than the incredibly similar tones I got on guitar. Identical settings yielded identical tones, with different amounts of volume required.
TLDR - best overall straight HM-2 clone I’ve ever played. If you just want to chainsaw stuff without bells and whistles, and don’t want to pay the ridiculous prices of an original HM-2, grab one.
I wonder if the MIJ version would be more similar to the Swede, since it’s technically based off of the MIJ pedal? Never had an MIJ to test.