Hard chrome is an excellent finish. It is hard and resists wear well. It is not as resistant to corrosion as nickel, nor does it cover the pistol as completely as electroless nickel does. The part being plated with hardchrome must be fixtured with rods going into the cavities (the mag well, interior of the slide, et cetera). The chrome deposits thus get "thrown" into the nooks and crannies. Careful fixturing can result in very good coverage, bit it still won't be as complete as electroless nickel.
The surface build-up (accretion) is less with hard chrome than with nickel, so the fit of closely fitted parts is less likely to be an issue.
While hard chrome doesn't protect the underlying substrate from corrosion as well as electroless nickel, it does do a very good job. You have to really neglect a hard chromed pistol for the difference to be seen. Besides which, the nickel can tarnish (especially on matte surfaces). It still protects the substrate and can be restored with a little silver polish, but it can be unsightly. Hard chrome also seems to have a more tenacious bond to the substrate. Nickel has more of tendency to peel or flake off.
I like hard chrome. I have always liked "white" pistols, so the color doesn't bother me. The texture of the hard chrome is determined by the preparation of the underlying metal. If polished mirror bright, the chrome will be mirror bright as well. If brushed or bead-blasted matte, the chrome will take on those relative appearances. It will always be silver/grey, but it can be applied to heavily bead-blasted steel for a very non-reflective pistol.
Rosco