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both offer HD now, and so does facebook. Pretty soon, every video site will be using the flash HD. So as far as quality goes, they're all tied right now.
I'd say vimeo though. It's still small enough that you can get your work scene by a lot of people.
i have to say i am really impressed with fcbk and youtube quality now, i actually don't mind looking at videos now on fcbk cause they look great, really impressed.
i think vimeo is better for uploading videos and like people linking you to watch specific movies, but youtube is better for just browsing around and watching random crap
myspace has all your favorite bands and celeberties, but facebook is cleaner and easier to use
if your looking for a clip from a tv show or sports bloopers or something, go to youtube
vimeo is (almost) all videos made by the user. Good for ski vids. Although youtube now ofters hd, vimeos been oftering it for a while so while the majority of youtube is crappy quality, vimeo is much better. Also, vimeo doesnt have the restrictions youtube has like it has to be less than 10 min, although theres still size limits. Overall, vimeo is much cleaner and easier to use, but youtube is still the most popular