About the only time you'll notice a big difference between a HOB and a canister is when you have a very large bioload, either from a heavily stocked tank, or from a tank stocked with messy fish. I found that no HOB filters can do the job that a canister does when it comes to a high-bioload situation, because a canister moves a lot of water through a lot of filter media, resulting in more efficient biofiltration.
If you are planning on a light to moderate stock, a HOB such as an Emperor is fine. Heavier stocking requires either more than one of this type, or a bigger gun like a canister. They're worth the money in the long run if you stock like I do...