I have an MD-2 and It's pretty good if you like low end. I pretty much like to use it as a booster along with my DS-1. but If you don't like low end i'll suggest these settings if you get it
Level: Halfway Bottom : 11:00 Top: all the way up Dist: Halfway Boost: all the way up
I dont know about an HM-2 but I do have an HM-3 and this setting is pretty good
Level and Bottom Halfway High and Distortion All the way up
You could try that setting on the HM-2 and tell me how it sounds
ya shredmasters are nice. id say the MD-2 is closer than a HM-2. the HM-2 is great for metal rhythym im my opinion. its pretty dark and good for chordwork. the MD-2 is pretty versatile and is often associated with nu-metal but its really just a great distortion if used right. (no idiot settings!!)
I have a Shredmaster, and an MT-2 and an MD-2. I'd say the shredmaster is more of a mix of an MD-2 and an HM-2. I don't really like it, but yeah if you're looking for one for a reasonable price I would do the BYOC kit, and they can pre-assemble it for a little bit more if you can't solder.