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The choice probably depends on your needs. Two key things strike me: One is size--the HP has a larger overall size, bigger battery, and a larger screen which you might want. The trade-off is that it is slightly less portable or pocketable.
The second thing is "newness". You can get the HP with extended warranty, if you want that, and it runs the newer operating system (WM6), which might give it a few more features, quickness, and future compatibility with new software.
I have an Axim and am very happy with it---planning to keep it until it gives out. I think both devices are very nice and the choice depends on your needs and uses. Perhaps others will point out other matters that differentiate the two.
You might search the site here and look at the threads about the hp--some members have already been commenting on the device and its comparison with the Axim.
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