I don't know enough about metallurgy to rate HLE versus other alloy steels, but in terms of the bikes that Peugeot decided to build with this material and the absence of any bad press that I've come across, I'd say it is an appropriate material for the low-mid range bikes that Peugeot built with it. I am a fan of my 1989 Peugeot Versailles (built with HLE) which is low-rung enough that I can use it for daily commuting without guilt, but has the speed and ride quality to make my 28 mile round trip something to look forward to every day.