Well, I think that when people say that an optical sensor is better than a Hall effect sensor, they may be misinformed. As an example, the factory ignition on the DOHC CB750 is often refereed to as a Hall effect ignition, but it is not. It uses a coil pickup to trigger the spark.
Also, Hall effect technology has been around for a long time and people often mention Hall effect while thinking about the fairly elaborate circuits that the early Hall effect systems used. The modern Hall effect sensor is a monolithic, solid state very small chip that has it's own built in voltage regulator and other features that produce a very consistent output over a very wide temperature range, like from -40F to 302F with an operating voltage range of 3 to 30 Volts. There are no discrete components that could be subject to thermal or age related degradation, so they are very stable. If you have a car made in this century, then you have numerous Hall effect sensors in the car performing various functions, including ignition timing.
Here is a picture of the hall effect sensor used in the PAMCO ignition. Notice the almost total lack of discrete components:
The original PAMCO was an infrared sensor (optical) type of system, but that technology was abandoned in favor of using the latest Hall effect technology.