I honestly don't think you can compare the two - leather vs. canvas (in most cases - I have not owned an LV leather bag), logos vs. no logos, etc. Having said that, though, I like both for different reasons. As said above, Bal leather is very special, and the styles fit my lifestyle. I don't have a lot of LV anymore except for a Speedy, but I love it because it, too, fits my lifestyle and is so classic. I also carry an LV wallet mostly because of the durability.
It is funny to me that when the SA at my local LV store mentioned the new leather line (can't remember the name), she described it as Balenciaga-esque, lol.