for anyone that's adept with mvc2 cable ahvb or st sagat tiger knees, if you're comfortable with the tiger knee motion, then that works as well
hcf,uf+punch or hcb,ub+punch
i use this input when i'm using hugo in 3s, but it works in like everything
as far as 720's, the recommended way of doing them is to just do the motion really fast
you're not actually required to do 720.. just 540 and it still comes out, so a popular method if you're having trouble doing full spins that fast on the joystick is to do this: f,df,d,db,b,ub,df,d,db,b+p
this should work is because if you're doing it at the correct speed, a super jump will input, and super jumps have more frames than a regular jump.. the super will activate before hugo is up in the air.. it takes some practice and i still can't do it consistently
then there's always the walking 720, where you "store" one 360, walk up a step, and pull off another 360 and it comes out as a 720.. basically whiff something (low kick perhaps) and do the previously mentioned tiger knee motion and you'll still be on the ground (with a 270 motion "stored"), then walk up a step and do another tiger knee motion and it activates
this method is okay for mixups, but can't really be used in punishment situations
of course, this is all irrelevent if the competition you're playing against falls for the empty jump-in into a 720 anyway