Looking at the latest budget 5" BNF options and torn between the iFlight Nazgul Eco and GEPRC Vapor X5. Both are around the same price point (~$200-250) but seem to have different strengths.

The Eco has iFlight's reputation and proven reliability, but from what I'm reading, the Vapor comes with a receiver included vs having to buy one separately for the Eco. The Vapor also has an F7 FC compared to the Eco's F4 processor.

Anyone flown both? Which would you recommend for someone stepping up from a Tinyhawk to proper 5" freestyle flying?

I've had hands-on time with both - the GEPRC Vapor takes this easily. You get way more value since the receiver is included, and that F7 FC makes a real difference for future-proofing. The flight characteristics on the Vapor are also noticeably smoother out of the box.

Interesting comparison! I was leaning toward iFlight based on brand recognition, but if the Vapor includes everything ready-to-fly at the same price, that seems like a no-brainer. How's the build quality comparison between the two?

Both are solid, but consider spare parts availability in your region. iFlight has slightly better global distribution, while GEPRC's newer models sometimes have longer wait times for replacement arms/props. That said, the Vapor's open frame design makes maintenance much easier than the Eco's side plates.