I use both, and find each has unique features that I need. Edit, amazingly I forgot to mention LR's history of adjustments.
Capture One:
0. LACK OF HISTORY OF ADJUSTMENTS PROCESS, MAKES WORKING BETWEEN IMAGES QUITE DIFFICULT
1. By far the best color editor I have ever used.
2. The fact you can now use the color editor/WB tool in local adjustments is also a very powerful tool
3. Local adjustments, period, C1 does it better as they are treated as independent layers, unlike the adjustment brush/multiple brushes in LR
4. The ABILITY to use sessions. I have no desire to keep all my images in a catalog, just does not work for me.
5. By far the best tool for Phase One back raws,
6. LCC process is easy to use and works, unlike the LR process which I have never been able to get to work
7. I have never tried to print from C1, and probably never will, as LR works great here.
8. C1 can have bugs, (I run in windows) but they are few and far between
9. C1 is fast and does seem to UNDERSTAND how to best use a graphics card, unlike LR
10. Zooming to 100% takes no extra time and is seamless
Lightroom
0. HISTORY FEATURE, To me a huge advantage over ACR/CC and C1, invaluable for my workflow.***
1. The new HDR and Pano tools are excellent additions. The ability to create a multi-image pano, as a dng and still use the LR tools is very powerful.
2. The new auto mask is amazing also and has huge potential
3. Catalog only, I would prefer a session work flow
4. Local adjustments are all on or all off, no way to only turn of one (which to me is an Adobe feature cut to keep CC use going), i.e. LR adjustments are
seen as independent layers.
5. Color editor in adjustment brush is OK, but nothing like the power in C1
6. Toolset is good and getting better with each release
7. LR is slow at times and seems to get memory leaks if open for a long period of time, requiring reboot.
8. I see excessive times (30 seconds to 45 seconds) to re-open some images and zooming to 100% can be worse if images have many adjustment
brushes
9. I still feel LR doesn't like working with a 30 inch monitor when zooming to 100% (something that has been around for years)
10.LR DOES NOT seem to handle a graphics processor well, in fact if enabled on my PC"s LR tends to slow down, GX470 Nvidia 1GB of ram
11.LR seems to work better for me on both Nikon and Fuji files but LR still needs to improve on their Fuji processing algorithm.
12.Print module works great and handles my printing needs for images up to 36" x 96"
Both tools can work to produce excellent results, and as many others have already commented, I can't ever see just moving to one of them.
Paul C
*** Just today, I went back to some shots taken in April of 2015, and I can still see exactly what I did to get to where I currently have the image, C1 in session mode just can't offer this. If you work a lot on your files in the raw converter as I do, such a history of adjustments is invaluable. LR's is even better that CC (when working in CC not ACR) as once you close a file, the history is gone. So for me this one single feature is a HUGE plus. I have never understood why C1/Phase One can't make their software do this or why Phase One doesn't see this as huge advantage. It might have something to do with how C1 implements the local adjustments in layers? I have asked many times on this forum and Phase's forum, but never have been given any answer other then use the back key, which is WORTHLESS if you are working on two or more images at a time as you will get lost where you are. So C1 seems bogged down in a "work only on one image at time" mentality. Sad.