Best thing to do is to give 'em both a spin.
The Hot Rod is louder, darker and more agressive but is great with pedals. Unless you play blues with a Strat, the drive channel is useless, IMO.
The Blues Deluxe is a brighter amp but not harsh in any way. Not much overdrive but sounds alot better than the Hot Rod's overdrive.
I had alot of fun when I tried a Lite Ash Tele on a Blues Deluxe (with Jensen speakers). Great amp for rock n' roll, gritty country, blues and ZZ-Top stuff.
I used to have a Hot Rod but after I tried the Blues Deluxe, I preferred that one.
I have an Engl Classic now. To me that's the amp the Hot Rod should have been.