Only its got PVC tubes, which I'm not happy about.
I think Valiant actually use Polyurethane (PU) rather than PVC (but I may be wrong with this model/age). PU is generally regarded as better than PVC; the PU suppliers will tell you it is better than hypalon too (e.g. better abrasion resistance). Most people here still prefer hypalon - although bear in mind that most of them have never owned a PU boat to compare it to. I've spoken to quite a few Valiant owners, and have never heard any complaints about the material. Knowledgeable people are buying XS and Valiants so can't be all bad. As I understand it PU is harder to glue so is difficult to work with for small volume / bespoke tubes, and harder to repair. It may also last less time than hypalon - although to get a truly scientific comparison you would probably have to make identical tubes on sister craft stored/used in the same way/place.