In reply to Tanza: Modular All-Caps Display Sans:
To me this is somewhat predictable, but done right it can still find users.
The low-waisted one seems more interesting, but I'm not sure it's better; to me some of its glyphs (like the "S") aren't working at all. Concerning the number of bar heights: in a design like this too much divergence can indeed ruin things; on the other hand a glyph in a straightjacket spells trouble. Here's a trick you can use to have more varied alignment while reducing "noise": align the bottom of one set with the top of another.
One big change I would suggest trying is beveling more glyphs, maybe even all of them; like the "H" is looking really out of place right now.
Stroke contrast: it's sort of in no-man's-land. Either make it more (if you want it really noticed) or make it less (if you want the font to appear monoline). Note that in the latter case you can't make them equal, since verticals would appear thinner.
Stencil: Try to make the cuts structural, not cosmetic (plus they need to be thicker).
hhp