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Let's see the most important ones...

1541 emulation: (no experience with Chameleon, but let's assume it's as good) - Tie.

REU support: (Doing some related coding myself, so I find this somewhat important) - again, based on assumption - Tie.

Expandability: 1541 Ultimate 2 has an USB connector, and has lately added f.ex. USB ethernet support (still hoping for MIDI support). There's also cassette port connector for dumping tapes & loading images. Chameleon has a custom slot for (expensive) Ethernet module and IR & PS/2 (maybe something else too?) - I'd say especially due to future expandability potential, 1541U2 is a clear winner.

Compatibility: AFAIK, Chameleon can't be used as a drive with Vic-20 etc. (at least without some extra hardware) - Winner: 1541U2

"Authenticity": (as in "Why would I use this instead of software emulator?") - Both emulate 1541 (or some other) drive. Chameleon can emulate the entire C64 in FPGA, BUT even when connected to C64, the CPU is always emulated. So I'd say: - 1541U2 definitely more authentic.

Future proof: The source code for 1541 Ultimate is open. Not exactly sure about Chameleon, but at least some fpga cores are open. From experience, this is VERY important in "Jens hardware", since sometimes promised features just are never finished (or released only for the next version hardware)



So what superior features am I missing?

Yes, I know there's (SuperCPU incompatible) turbo, but that's something I can do with software emulators. If it's going to be based on guesstimates about the internal functionality of hardware, I don't think there's much difference if the emulation is done in software or FPGA. VGA out? My Raspberry Pi has HDMI with software emulator based on the exact same assumptions on VIC-2 internals.

And as for Jens, has everyone already forgotten about him angrily dropping all (promised) MorphOS support, due to some disagreements with Genesi? You know, the same Genesi that MorphOS development team also had disagreements with...