Meh. While I do enjoy me a good shounen beat 'em up series, I prefer Bleach to Naruto, as Bleach has a wide cast of interesting characters whereas Naruto's cast I could care less about. Plot-wise Bleach is also more interesting, to me at least.
Part of this may be because I REALLY don't care about Sasuke at all. Never really liked him, what with the silent and grumpy thing. At least Ishida, Sasuke's Bleach counterpart (and amusingly enough voiced by the same Japanese seiyuu Noriaka Sugiyama) is entertaining.
Naruto also generally annoyed me, incompetent and stupid heroes aren't necessarily my thing, and Naruto just wasn't that compelling of a hero to me. He was a brat, and I didn't really like that. His Bleach counterpart Ichigo, on the other hand, was a punk, and I prefer both his variety of slapstick and the more general comedic interactions he has, as well as his general more serious facade.
Sakura's obsession with Sasuke and apparent inability to be otherwise worthwhile made me disregard her as a character pretty much immediately. Her Bleach counterpart, Orihime (or Rukia, I'm going with Orihime for this one) is hilarious and adorable, which mitigates that.
I have been told Shippuden is much better, but I'm not invested in the characters now, so while I'll read it in my sister's Shounen Jump if it's available, I'm not really interested in pursuing it.