I've been waiting to open that Online Savings account so I could take advantage of a signup bonus. I've contacted HSBC a couple of times and they tell me it's not for the general public (just for qualifying customers). They do have a $50 Smart Package signup bonus open to all but it has some extra requirements.
So I can't comment on my experience with them, but their savings account features seem just as good as ING or ED. HSBC also offers checking accounts which ING and ED do not offer.
BTW, there's also a discussion of HSBC at this
thread.