You have a cable in the system... the merits of hydraulics have just been rendered almost completely mute. the SRAM Red solution gives you hydraulics from lever to pads.
The main advantage of the hydraulic brakes on mtbs is the huge stopping power with minimum input power, great being able to brake with one finger, a few people have said that they have enough stopping power with cable rim brakes as they can easily lock the wheels up, I used to think the same, however braking power is more to do with how quickly you can reduce your speed to a point where the wheels will start to lock, and how this can be done with minimum effort on the brake lever, braking with one finger really helps you to keep full control, especially on rough ground. The Hope CX brakes are reported to be very good as the power required at the master cylinder is very low with respect to the stopping power, hence the small loses due to the short length of cable before the master cylinder do not really reduce the actual power at the caliper. The feel and modulation of brakes on a bike comes more from being very aware of the bike, you feel the wheels locking through all contact points, not just the brake lever, and can respond to this feel.
I assume the car in the avatar is yours, starngely the only other people I ever hear talk about modulation of brakes are those who drive the more interesting sports or race cars.