I can't think of many reasons to prefer HOMC to a good MM. The purpose of the MC design is to reduce moving mass on the cantilever, which increases responsiveness and dynamics. To achieve this, LOMC's have minimal coils (and thus minimal output). To achieve higher output levels from the same design, the HOMC version of a cartridge typically doubles or even quadruples the coil windings. This of course undermines the original concept. HOMCs arguably bring you the worst of both designs, often at higher cost than an MM.
My main cartridge is an $8,500 LOMC, however I own a couple of sub-$200 MMs that sound amazingly good for their cost. Again, check out Raul's MM vs. MC thread for valuable suggestions and experiences.
Just my $.02...