Simple observables from fat link fermion actions

A comparison is made of the (quenched) light hadron spectrum and of simple matrix elements for a hypercubic fermion action (based on a fixed point action) and the clover action, both using fat links, at a lattice spacing a0.18 fm. Renormalization constants for the naive and improved vector current and the naive axial vector current are computed using Ward identities. The renormalization factors are very close to unity, and the spectroscopy of light hadrons and the pseudoscalar and vector decay constants agree well with simulations at smaller lattice spacings (and with experiment).