First, both bands are awesome. There is no band I'd rather hear in the world than either of them.
Second, Furthur seems a little less free form to me.
Third, my favorite Dead songs have always been Jerry songs. Followed by covers. Followed by Phil songs (like Box of Rain or whatever else Phil is then singing). Followed by Bobby songs. That doesn't mean I'm a Bobby Hater. I'm not. But I like what I like.
Fourth, I just love Jackie Greene. I love his voice. I like his guitar and keyboard playing. I like his playfulness or whatever you want to call it. I love that guy.
Fifth, while not a Bobby Hater, I do find it annoying when Bobby forgets stuff or is hammered on stage (as he was at Best Buy a few years ago). Now sometimes the lines stuff is kind of amusing and charming. But I dunno, most times it isn't.
Sixth, Phil is the pulse and he seems to enjoy P&F more than Furthur. When Phil is happy, I'm happy.
Last, any show with JK and JG singing almost all of the songs, and them being Jerry songs in the main, is better than any other show.
Taking all that together, I guess it's pretty clear that I enjoy P&F a hell of a lot more than Furthur.
I've been seeing the Dead and all that came after them since 1979. First show was at the Cape Cod Colliseum though perhaps that show shouldn't count since I spent the whole night try to pick up this lassie who wouldn't bite. But my point is that I've been on this ride a long time, and when I say that I appreciate them both but like P&F more, I really mean it. This sound is so aweseome. I mean, Bobby is not my favorite element in the equation but I love the crap out of Rat Dog shows. So take it all in context, friends.