Hydra is nice because you can add/remove tunes without pulling the chip. If you have a stock truck its not needed, but handy if you have a lot of mods and need tunes tweaked. Other than that they use the same tunes, so no difference in the tunes/power.
One thing i've been noticing is theres a lot of sales on TS chips, seems like you can pick em up for $150-200 all day long.
I went with a TS style chip and switch just because I could hide it/mount it easier. I don't change tunes often and even if I needed to send it in for tunes it wouldn't bother me.
I had no desire for that Hydra switch in my truck.
I had the hydra, it was nice because it had 17 positions and when I needed adjustments for my setup, download the tune from email open HF flash the tune to the chip.
I have had both and if money isn't a factor I would go hydra. Just for the fact you can put didn't tunes on it easier. I was surprised how little the hydra was. I thought it would be bigger and stick out more than it does.
Pretty sure you can set the tune, then unplug it. (If you don't want it in view) although mine you can't even really see it. I've had people look for 10 minutes before they finally saw it and asked what it was.