In spite of the cost difference, I'm planning on purchasing the MTH version (both locos as separate items).
If there's an option between Lionel and MTH, I've generally purchased the MTH - primarily because of their price. While I recognize price COULD make a difference in quality, I haven't seen where the quality is lesser on the MTH models (although I'm by far no expert on quality), but the details on the MTH items are really good.