The LB-100 is simply superb, virtually playing itself. The SB-1 as an instrument has a lot more character — it can make the LB-100 seem kinda facile, just as much as the LB-100 can make the SB-1 seem kinda inferior. It's fun going back and forth between the two. Ultimately, character will always trump excellence.
My SB-1 ('87) has a maple board, my LB-100 ('94) has rosewood. The SB-1 neck a bit thinner front-to-back than the LB-100, but both are rock solid and feel great. However, I put an MFD into the LB-100 and that really brought it to life. It's a pound or 2 lighter than the SB-1, as well. Both sound great live and recorded, though I tend to use the LB-100 a little more often.