Paul,
I have the Eagletree and an ICE50, and the Eagletree offers some advantages over the ICE. Mainly I think it is being able to add extra sensors and the current sensor is better calibrated than the ICE).
On the other hand, the ICE has one feature which can't be beat--it's called "Motor Power Out" ("MPO"). That quantity tells you how close you are to full throttle during the flight. As long as you never reach 100%, you are doing ok. It can do this because the ESC knows what throttle (PWM width) it is commanding to the motor. The Eagle tree can't give that.
If I were just starting out, the ICE really would be what I would want for CL. That "MPO" will tell you how close you are to running out of battery during the flight. Plus of course you get the other stuff (rpm, volts, amps, power out, and something called Voltage Ripple--it is the difference between the battery voltage with power on -voltage with power off (during the on/off period of the PWM). I am seeing something less than a volt, which is apparently "ok".
So I have both, but not the Hyperion e-meter. It might be pretty nice too.