Kuryakyn makes good products. I don't have either one but you wouldn't go wrong with either. It's gonna depend on what you are looking for.
Are you looking to stretch your legs? Or have a fold out heel rest, kinda like a mini floor board set up. If you are looking to stretch, then go for the swingwings, they are a new product. The switchblades will act like a mini floor board.
I currently have the switchblades and they do drag if you hit the turns and corners hard. I ordered the swingpegs 2 weeks ago so I could have the highway type peg ready to go without having to add clamps to the down tubes. I am going to move my switchblades to the rear and see how that works out. The only drawback is I contacted Kuryakyn today 6/6 and they stated that the swingpegs will not be available until Sept. or there abouts.....
I have had the switchblades for about 1000 miles now... and I ride pretty hard through the twisties... so here is the low down from my perspective.
Cornering with the 'blade' out and you will drag like its nobody's business, even with a shallow angle you still lose an inch or so in clearance. (I cant ride twisties with em out).
Cornering hard with the 'blade' in, if you scrape more then just a slight drag the blade will flip out on you.
As far as flipping them in and out it is quite easy to do with the inside of your foot or heal while your riding... I am always flipping them in and out. When we are cruising, flip them out, when we get to the curvey stuff, tuck em back in...
Now... the above stuff is not that major a deal... the biggest problem/complaint I have with them is that you can't put much weight on that heal support or the pegs will rotate on you. I have had them rotate on me twice now. After the second time I lock tighted the threads on the bolt and the shaft of the male adapter where it goes into the peg. Since then I have not had a problem, but I am also very cautious about how much weight I put on them.
The switchblades work fine. They need to fitted so the heel rest is almost horizontal.This gives more weight to the heel and alows you to pivot the foot on the heel rest to operate the brake or gear change.
These pegs give you foot more room to move. Yes they will drag in the twisties if you leave them open. But when closed they are no different to the stock pegs. If you do drag them when closed they will open up but its no big deal. I like them but you must use Loctite on the adapters or the heel rest will pivot down with heel pressure. I have just made some adapters so I can fir some to the rear to stop the pillion burning boots on the exhaust. The adapter makes the rear pegs stick out about one inch wider.