Unless you get a killer deal on a hybrid or already own one, I think I would go with the Hx35. Maybe slap a 14 CM2 WG turbine casing on it and maybe like Paul says mod the WG to flow a bit more. I already owned the DZ so I used it. My truck is an 02, so my HX35 had the new WG design and I would have needed to buy an older style turbine case to make the WG work in Rip's kit.
There are allot of s300 hybrids out now to spend money on. I think they will perform better over a hybrid. Spending your money there is probably a better option I would think vice putting close to the same amount into a hybrid. So if it were me, I would start with the Hx35 and run that until you felt it is outgrown. That way you can reduce the $$$ thud sound when you first buy a kit.
I should say that, with my set up I am not really pushing the DZ to the absolute limit yet. I just today hooked up a drive pressure gauge and should have some M4's installed soon. I will let you know how it works after that.
Don't forget you will need to likely add in as a minimum, if you have not installed them yet, the cost of head studs. They make a little $$$ thud sound just by themselves.
In this
TDR Thread I asked this question.
Is it typically exhaust or intake restriction that limits most twins?
It seems to me that with properly sized compressors, multi stage compression would almost always be more efficient than single stage.
And I got this answer, which is probably one of the best explanations I have seen.
It's best if you think of it like this: Twins amplify the power capacity of the smallest turbo while keeping close to the same drivabilty/spool up as the small turbo.
Bypassing the turbine side is probably the most critical part to making big power with twins. Non wastegated primaries and undersized wastegates on the secondaries severely limit the power output of a twin system because turbo are needlessly over driven which costs hp. Two turbos take more hp to turn then one turbo so it's not always more efficient. They do have a more efficient powerband, meaning they have a broader range of usable power.
.....
Idaho CTD
So from his point of view at least, the better the secondary turbo the better the set up. I have found this to be true. And, as you keep upping Hp it is also the exhaust side of the secondary turbo that limits you. So the exhaust side of a stock HX35 could be a real factor. And and, the biggest advantage of twins is the much broader range of usable power.
Hope this helps;
Jim