Ned Leeds was a real cop-out. Roderick Kingsley, who Roger Stern has said was his original intended character, is a great character. Fascinating personality, and genuine cold blooded-bad-ass.
Yep, it is a shame that Stern left the book before outing Hobgoblin and that editorial disagreed with/didn't like the idea of Kingsley hence the killing of Ned Leeds in a Hobgoblin suit just so they could make a different Hobgoblin and wreck the character.
I was SO glad when Stern returned and gave us the Hobgoblin lives mini-series and corrected that huge mistake.