1. Effectiveness-tieBoth are free.
Let's talk pros and cons.
2 Learning curve, user-friendly
4 Compatibility issues
5 System performance issues
2. Learning curve, user-friendly VS +1 just for the setup
3. Bugs-CF +1 (bugs are LESS dangerous at cruelsister's settings...I still feel there is some "who knows what will happen" with VS)
4. Compatibility issues-I will say tie
5. System performance issues-VS +1
VS wins the points by +1 which I attribute to being designed for one specific type of protection with low resource requirements. Still, I will say that at cruelsister's settings this is a tie protection-wise, and then the user can decide which he/she likes better. However, VS uses far less resources.
If @shmu26's Other in the list is the addition of network control and the firewall, then the CF ties the score. I can't see why any PC user should rule out the firewall who installs CF. It can be a key portion of a solid security setup.