Well the CyberVisionPPC is faster and has more memory. And when you don't need the SD/FF then I'd stick with the Cybervision.
The reason the PicassoIV is a very good card is in my opinion because it's a really elegant design. The SD/FF works without any hassle and you can use every screenmode on one monitor. For me having easy access to the native Amiga screens is very important.
So the choice is faster and more graphics memory --> CyberVision. All in one solution with SD/FF --> PicassoIV.