I've owned the CQD2, only played with the Hornet. The CQD is a heckuva good knife, with great applications if you regularly work EMS,Firefighting, LEO, etc. If not it may not be worth the downsides which I will mention here...
Tip down carry- for my hand the tip down carry was just always slow and awkward to open the blade. I've got a strong feeling this wouldn't be the case with the auto version.
Smallish handle- the handle was a little small in most grips for my largish hands, About the only defensive grip I dare use with it was just a plain hammer grip, Sabre or Philipino grips were just way too awkward for me, not enough handle.
Thick blade grind- I guess this is one of those give/take issues with knives, you can have it hell bent for stout, or you can have it slice like crazy, but it's difficult to get both, and I believe the CQD leaned a bit more towards the hell bent for stout side. It was fine for the typical tape/cord/knock around kinda stuff, but it was a bit inefficient at cutting denser materials like cardboard boxes and foam. Very much a perspective issue here, but, that's mine...
It's also just a wee bit thick and bulky for most EDC applications.
When I first got mine, it had some vertical blade play, and I sent it out with an entire herd of other knives that needed factory work, Spyderco, Emersons, etc. and within a week they'd sent me a brand new knife, FANFREAKINGTASTIC customer service. One of the many reasons I WILL own more MOD knives.
On the brighter side, it was very well made, the glass breaker was pretty cool, and the spearpoint blade was pretty sweet as well. I also like the plunge lock. (avoid linerlocks whenever I can) If a person wanted to they could easily sharpen the back edge of it and carry it safely. It very much does happen to be one of those knives I wish I'd kept.
The Hornet did seem very well made, and somehow inspite of the smaller handle, fit my hand more nicely. For a liner lock, it was VERY well made, and it seemed much handier for EDC. The blade also seemed a bit more accessible to me, but like I said before, probably a personal issue. Bear in mind, I never owned the Hornet, just drooled and gawked at it for awhile.
So, in summary, if you wanted the input of a neophyte knife guy, I'd say get the CQD2 if you're routinely working Emergency Services of some sorts, get the Hornet if you're wanting a good, stout, well made EDC that is still quite capable of hard duty.
Best of luck to ya'!