Iota Hydri is the home system of both my husband and myself. I've spent almost all my time there. I found Iota Hydri a month after buying the game (since December).
I was saddened to see that the two Haz Res in the rings around Iben Hub have been moved to the next planet. They're now 40ls away rather than 0.2ls away. And near a gas giant as well which will slow things down. The number of times I've rushed back to Iben Hub with a breached canopy ...
And yes there's also often a CZ there, sometimes two. I wandered into them both once and found that I was allied with all the factions fighting there so I left whistling nonchalently.
I also found Rechtin Garden, an outpost in CPC 22 212 is really good to go to for outfitting. I always make sure that I am clean in that system so I can jump there from a Res and wait out any bounty if I accidentally shoot someone.
The system is on the border with the Federation, but not too far from important places in the Empire. And if I want to cash in Fed and Alliance bounties and perhaps smuggle some illegal salvage then I go to Turdetani where I can do it all at once.
I was really surprised to learn just a couple of weeks ago that DSN is a player faction. This unnerved me a little because if they annoy another player group then someone might UA bomb Iben Hub and my home would be gone.