Hybrid simulations with kinetic ions and massless fluid electrons are used to investigate the linear and nonlinear behavior of the magnetized Rayleigh-Taylor instability in slab geometry with the plasma subject to a constant gravity. Three regimes are found, which are determined by the magnitude of the complex frequency ϭ r ϩi␥. For ͉͉Ӷ⍀ i (⍀ i ϭ ion gyrofrequency͒, one finds the typical behavior of the usual fluid regime, namely the development of ''mushroom-head'' spikes and bubbles in the density and a strongly convoluted boundary between the plasma and magnetic field, where the initial gradient is not relaxed much. A second regime, where ͉͉ϳ0.1⍀ i , is characterized by the importance of the Hall term. Linearly, the developing flute modes are more finger-like and tilted along the interface; nonlinearly, clump-like structures form, leading to a significant broadening of the interface. The third regime is characterized by unmagnetized ion behavior, with ͉͉ϳ⍀ i . Density clumps, rather than flutes, form in the linear stage, while nonlinearly, longer-wavelength modes that resemble those in fluid regime dominate. Finite Larmor radius stabilization of short-wavelength modes is observed in each regime.