1. Tile-based rendering is not specific to PowerVR architectures. Architectures frequently break things up into tiles for rendering because it makes memory accesses more efficient.
2. The "HSR" of current architectures is essentially a way of keeping hidden objects from being rendered. Modern architectures have essentially optimized the case when a z-buffer fail happens, keeping z-buffer fails from reducing performance as much as possible (i.e. an old architecture, upon a z-buffer fail, would still render the pixel, it just wouldn't output it to the screen. A new architecture is capable of skipping that rendering altogether, through the use of a number of techniques).
3. The tile-based deferred rendering of PowerVR's architectures is pretty simple: Wait until the software sends all of the commands to draw one frame, while storing every command that comes in. Sort these commands by tile, then render one tile at a time.
By rendering one tile at a time, while at the same time having all information about all commands that are going to be executed at that tile, the hardware is able to completely sort all polygons before rendering, which results in only rendering visible pixels, allowing for maximal efficiency in rendering.
There is also a memory bandwidth benefit, as the entire tile is written to the framebuffer once, and no external z-buffer is needed.
The problem with this deferred rendering approach is the fact that the entire scene must be cached before rendering. This "scene buffer" effectively takes the place of the z-buffer. The objection I have to this approach is that the size of the scene buffer is unknown before rendering, and so there are always going to be possible buffer overflow issues which could drastically impact performance. By contrast, the z-buffer's size is well-known prior to rendering. Immediate-mode renderers (pretty much any GPU available today) also have a number of techniques that improve efficiency, so I don't see a reason to go "all the way" to deferred rendering to solve problems that, in my mind, don't really need solving given today's rendering performance.