I use both of these razors on occasion. Infact, I used the Merkur HD yesterday and I plan on using it today also. As others have mentioned the EJ is quality fit/finish is top notch. The Merkur HD I have has decent plating and finish, but it's Spartan compared to the EJ. They are about the same in aggression, edge going slightly to the Merkur.
Man an ej loaded with a feather is capable of mowing throw any style of beard imo. Ive owned both, i sold my 34c well over 6 months ago, and i really havent misssed it. The ej is as aggressive but smoother, especially noticable on the neck strokes. You will see what i mean in time.....u will end up with both, eventually, so buy either, for now!