What are your observations? Do you use LR for your Phase One P65+ raw conversions in lieu of Capture One?
I think that Hasselblad overstepped with their discussion of Adobe/Hasselblad "cooperation". Adobe works with many camera companies and tends to keep their mouths shut about what work is done with what companies. (you'll note the original posted PDF has now been removed–that says something).
Personally, I've been using ACR/Lightroom with my P65+ and IQ180 backs from the beginning. I do use Capture One when I'm shooting tethered but everything I shoot ends up in Lightroom (250K image and counting). I think if you know how to use the application on an expert level, you can get excellent results from pretty much any raw converter (well, except Nikon & Canon's software :~).
I'm pretty good at using ACR/LR...heck, I wrote a book on Camera Raw. I used ACR before the P65+ was officially supported from Adobe. But I had the benefit of having sent samples from my camera to Eric Chan for testing. That kinda helps when you are looking for camera support.
I think Capture One is clearly better at "default" than ACR/LR. But I think ACR/LR's sharpening and noise reduction is superior. Getting optimal color is really a question of mastering the tools each app supplies. I like ACR/LR's global and local controls a bit better (C1 doesn't have a gradient tool for example).
Look, there are no magic bullets...getting the best possible image takes good photo technique as well as good post processing.