Peaking may be an A1 feature. However, from an image standpoint, the HC1 and A1 share the same lens, sensor and electronics. They should have basically the same image save for some post processing (Cineframe/CineGamma, etc.)

There are some software differences, for instance sharpness, color, wb shift, AE shift and exposure settings possible with the A1, white balance is more adjustable and the A1 has black stretch to help with low light, etc.
These days with DV software is an important factor.