I'm quite fond of the Juction system, and the materia system appeals to me as well, but FF8 is overall better for me in some aspects.

FF7 has much better backstory for characters and protagonist(s) while FF8 slacks in that department. Both have equally great tracks, nicely composed. I like the military feel to SeeD, makes me feel important and known in the game, I also like the rankings and salary.

Main characters are kinda the same until the endings when they get romantic and feel the love.