I have owned both and consider them somewhat different beasts.
Ibanez is a 34" neck-though, slim neck, 16.5mm bridge spacing, and soapbar pups.
MTD is a 35" bolt on, has a substantially beefier neck, 19mm spacing, and J/MM pups.
They're so different feel wise, that unless you really aren't at all picky, I'd strongly urge you to play both before settling on one or the other.
If you're purchasing online, it can be a bit tricky finding these models in stores. I try to find local substitutes that will feel somewhat representative. In my neck of the woods, Ibanez SR's are fairly ubiquitous so finding a similar 5 string model isn't too hard. It won't be identical, but it will get you in the ball park. Finding the MTD will be much harder if you don't have a dealer close by. As a substitute, try a a 5 string Lakland 55-02 or an Ibanez BTB, preferably an older model with the bolt neck. Neither will give you a feel for the MTD's actual sound, but it will put a wide spaced 35" in your hands.
FYI, if the SR1005 is from about 2006 or so, it's Korean or possibly Indonesian, not Japanese, even though it's labeled "Prestige". IME, build quality is a smidge nicer than standard SR's but I wouldn't rank them as highly as other basses in the price range. I prefer the SR505 of the same era over the SR1005.
Hope this helps.
Originally Posted by JimmyM
There is good money in playing music that musicians hate.