Hyperref options

Consider the following two MEWs:

\documentclass{article}
\begin{document}
Click \href{http://www.latex-project.org/}{here} to go to the webpage.
\end{document}

and

\documentclass{article}
\begin{document}
Click \href{http://www.latex-project.org/}{here} to go to the webpage.
\end{document}

Question

Are the two MEWs equivalent, i.e., are the any difference between [colorlinks=false,pdfborder={0 0 0}] and [hidelinks] as options to hyperref? If there are differences, what are they?

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Note the option hidelinks is relatively new. I guess, in reaction to user requests. – Speravir Mar 17 '13 at 0:03

The relevant definition of hidelinks is