as companies overall, you can't say one's better.
cold steel makes good folders, gerber makes crap folders, then they also make very good folders (spectre, SL, Walker, airframe...).
i'd say for folders, gerber is better with their ats34/154cm knives (and some of their aus-8 like the air ranger),
as for fixed blades, there's not much to compare, gerber doesn't have any like cold steel does, so i guess cold steel's better in that category.i think it all depends on the model knife you're looking at and for what purpose it's used for.
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~Fumbler
the crazied knife weilding Sarah McLachlan fan =)