I've used both EZ line and the knitting in type elastic from WNW. EZ Line is very strong and the flatness of the profile changes to a more round profile when stretched. If only it was available in a steel colour. I find EZ Line does not always take paint well.
The elastic is quite good with similar properties, however the semi-translucent colour looks quite effective against dark aircraft, such as the later Fee night version, and takes paint reasonably well.
I have no idea about longevity as the oldest model I have with either thread is only 2 years old. Either way, I have had no disintegration over time yet.