Hey LM,
As of now, there is no competing product to the TR-1.
While the EZ-Steer gives you trolling motor control (steering only, no throttle control) from the helm, the TR-1 is a heading holding auto pilot that steers the boat independent of the boat's main engine/drive.
Along with hands-free steering, the TR-1 gives you throttle control and, more importantly, with a push of a button you have complete manual control of your trolling motor to fight a fish or perform other quick maneuvers.
I realize the TR-1 is an expensive, somewhat complicated piece of gear but there is a reason that it's so popular among serious anglers and charter professionals alike:
The TR-1 takes care of boat control, allowing you to concentrate on catching fish!
My advice: save up and get one on your boat! Once you use it, you'll wonder how you ever got along without it!