My friends and I own both systems, honestly as first generation systems they work damn well.
The Vive was launched with motion tracked controllers from the start, and I feel a lot of the enthusiasts went towards that product. The
The Oculus Rift is similar in many ways to an Apple product in terms of higher level of refinement and ease of use. Facebook/Oculus are funding developers to develop quality content on the Rift - quality beyond what you'd expect from a VR market at the current size (examples are RoboRecall, SuperHot VR, Dead and Buried to name a few)
Here are some major categories discussed from my experience that I hope will help you.
Motion tracking performance
As of now both system's VR motion tracking performance are very similar. The Vive's tracking system is an elegant solution relying on scanning lasers that are detected on the HMD and motion tracked controllers. Oculus' camera image tracking system with the latest version of the Oculus runtimes (version 1.12) works very well. My anecdotal experience is that the robustness and performance of Vive vs Rift tracking systems are very similar.
The Oculus Rift motion camera tracking system uses coded LEDs emmitted on the HMD and motion tracked controller. Default is two camera forward facing configuration whcih is optimal for a forward-facing VR experience (cockpit simulations, forward facing shooters etc). The two cameras can be placed at opposite ends of the play area to give 360 degree tracking. For optimal 360 degree configuration, two forward facing and a third rear camera is the recommended configuration. The Oculus camera derive power and send data via USB connection to a computer.
The Vive's motion tracking system consists of two lighthouses on the elevated opposite corners of the room to function. This system require power from a wall plug and optional sync cable to be connected if the Lighhouses are not in visual line of sight.
Both the Vive and Rift have similar drawbacks, if emitter and sensor is blocked (line of sight occlusion), tracking accuracy is reduced.
The Oculus Rift HMD and tracked motion controllers are significantly lighter (around 85 grams for the HMD alone), and more arguably more ergonomic than the Vive. The Oculus HMD have in-built headphones (optional In Ear Monitors). Audio is very important in VR. The Vive is soon to release an integrated audio strap to address this issue (optional purchase, unsure if this will be included in an updated HTC Vive system).
If you want to be on the bleeding edge, wireless HMD to PC solutions are coming for the Vive and Rift as optional accessories in 2017. The Vive will also likely get additional motion-tracked peripherals (e.g. gun props etc).
Resolution is the same between the Rift and Vive. The Rift's optical lens is sharper towards the edge of FoV. Both systems show visible internal reflections in the lens (god rays).
The Vive runs software from Valve's Steam store and HTC's Viveport stores. The Vive can also run software outside of either of these stores (titles from independent developers, self-developed Unity and Unreal projects). An unofficial hack will allow Vive to also run some titles from the Oculus Home store (while unofficial, users have reported good experiences).
The Oculus Rift runs software from the Oculus Home store and Valve's Steam store. My own experience is that the same title on either stores (for example Elite Dangerous), tends to run more optimially in the Oculus Home environment for the Rift. The Oculus Rift can also run software outside of either stores (titles from independent developers, self-developed Unity and Unreal projects).
Right now VR in the consumer market reminds me a lot of the first consumer GPUs that came out in 1995-1999. Initially the industry required exclusive support from third-parties, but as OpenGL and Direct 3D support matured the industry became interoperable across all the major GPU vendors and the technology leapfrogged ahead until now 20 years later. We're seeing the same pattern of development in VR, Khronos' OpenXR standard will help provide a common application API so that future VR software titles interoperate across more VR systems.
I believe we will see a similar trajectory with VR/AR as we've seen with consumer GPU technology. In 10 years there is a good chance that this will be extremely commonplace.