I follow AROS developments, but its still not ready for me to make my primary usage platform, like I used an Amiga back in the early 90s in place of unix variants and windows. I don't have a machine that runs MorphOS, but as far as I'm aware from what I've read....
Graphics wise, MorphOS has video overlay and some hardware accelerated alpha channel aware graphics functions implemented which are missing or incompletely implemented in AROS. I'm not sure which are HIDD/driver features, and which are higher levels, but it will be nice to see AROS continue to improve in these areas.
MorphOS has commercial quality Poseidon USB and TurboPrint printers support. Other areas AROS is slightly lagging in.
MorphOS allows partitions greater than 128GB with their newer SFS, while AROS is lagging in Amiga style native file systems that support the larger disks of today, unless you partition into many slices.
MorphOS has had better MUI and GUI theme integration system wide.
Probably better console and text editor implementations.
AROS has been improving much in the past couple of years, but still has a ways to go. The m68k-amiga emulation environment probably needs some more hooks into the native environment and a gui-less AROS kickstart rom workbench program that just communicates to the aros-native one to do its work, with a single shared mui/theme prefs between the two, so a user never needs to see a second disconnected GUI that behaves differently than the native environment.