The biggest difference between the Alphamax and the Hawk series of bows is in the risers. The Hawk series does not have a MACHINED Aluminum riser, they actually have a cast magnesium alloy riser (hence why they say Mag Casting). Say what you will about it, but this is actually a pretty big downfall for this bow. Also, the Hawk series does not have any sort of string dampening system as well. Essentially what it boils down to it that a forged and machined riser is going to be way stronger than a cast. Most guys argue the hand shock theory out of both...I don't know about that. Most guys will say that cast has more hand shock, but contrary to popular belief, hand shock actually comes from the vibration and handshock in the limb pocket/seating, which are more associated with limb angle.
A bow with a cast riser can still be accurate and well-made, but forging and maching an aluminum billet into a riser normally produces a riser that is stronger, less prone to bending and will not have the potential of having spots inside the riser like a cast bow may have.
Some people swear by cast because of the price point, but I would pay more for a bow that I know is going to be tougher and more durable in the long run.
Just my two cents...