The revised HydroConquest uses the in-house column wheel movement, a very good movement whilst the original used the ETA 2824-2, also a very good movement. Sadly just like Tudor, Longines dirtied the dial of the revised model by making it too busy. You could get the original version for cheaper but I don't know if they did it in red like that one.
Either way, both versions are made really well and the revised one is all brushed stainless steel (old one had polished bits), so that offsets the busy dial in some way
I think the HydroConquest holds its own very well, not trying to copy any other watch out there, just being a diver with its own style cues.
Word of warning, the lume on all Longines like this isn't very bright, and it's old type lume in green. I got so fed up with it that I sent mine away to be re-lumed in BGW9. So if you like your lume bright out of the box, then this probably isn't the watch for you.