LumaLoop Pros:
1) Comfort;
2) Quick release mechanism is easier to engage;
3) Stays in place a lot better when moving around.

However, there are a few key features where the BlackRapid straps do outshine its competition, such as:

BlackRapid Pros:
1) Memory card slots;
2) Option to add underarm strap to stop it from moving too much and a bit more stabilized to your body (I’ve since done the same to my LumaLoop through my own jerry-rigging).

However, the Cinch, at least to my understanding will outshine the competition because:

Cinch Pros:
1) They will provide the user to adjust the tightness on the fly, and one of the things I’ve always hated about both the previous brand’s straps is that the camera bounces around your hip cause it can’t sit tight against you. This is important when you’re running and shooting; climbing ladders; and just general peace of mind that your camera is not smashing around everywhere and you have the fastest possible solution of loosening the strap.
2) I do a dabble in some photography for the military, and nothing is worst than running around trying to follow a section or a platoon through its manuevers and having your camera smashing around your side. Naturally there is the Cotton Carrier solution to counter this, but I find their strap is too cumbersome and has too many straps that hang loose and could get snagged on something. 
3) The Cinch provides the best of both worlds insofar as allowing you to quickly tighten and loosen the strap to your body while being low-profile enough where it looks high speed-low drag and do its job effectively.

My two cents.

Why do people always want to re invent warm water?