I can't really comment on the low buy in tourneys for either of these sites, but I can tell you that I've played at both of them quite a bit, and I prefer Full Tilt. They have better software, better tourney structures, etc. It's just a better site.
Of course, I think you should join both sites and then pick and choose where to play. I've never understood the "one site" mentality. Why limit your options?
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