zangief can do standing 720 on a hitbox
The ONLY issue hitboxes have is up to down, which makes it hard to do tigerknees as uf+qcf (which is superior to qcf, uf because it buffers the qcf inside the jump frames making it quicker). I've been discussing a fix for that though...
Hitbox seems preferable for this games style of inputs on cancels. Do Aquamans d1, db2 and it's extremely tight to cancel by rolling on dpad or stick. But on hitbox you're fast enough to do d1, b2 and it will cancel perfectly. I have yet to find any need for SOCDs though. The game has no SRKs and the bbMB and ffMB is better done with dbMB and dfMB (yes these work!). Also Cyborgs j, bf2 can be done extremely low to the ground with a hitbox
