I have the 240 hoody and traverse hoody. I think it's amazing the 240 has a full length zipper but came in lighter (sz med 13.4 oz). The torso is shorter than the merino base layers, but longer than my kenai puffy. It fits looser than the traverse, which stretches around you. I'm 5'8" so length of torso and sleeves is fine for me, but I could see problems for bigger guys. Sitka traverse hoody is longer in all respects.
I haven't used the 240 enough to speak to drying time, but rumor is without the spandex (the 240 is 100% poly) like in the traverse, the kuiu piece should dry quicker. I've noticed once you sweat up the traverse it takes a while to dry.
I think the traverse hood is more form fitting, but like the 240 hood as well. I was worried the 240 might be too heavy/warm as a mid layer, but it's awesome. Fits under or over my puffy, and great just over my merino, so super flexible layer, not too bulky. Sold my softshell as the 240 effectively replaces it for my uses.