Flip a coin. I really don't think either is better than the other, both make top notch knives! You really can't go wrong. I say pick the ones who's style and designs you like best. They are rather different in that regard. Dowell does traditional patterns that are consistent from model to model. Davison doesn't use patterns and each one is unique. This shows in their varrying styles and unique look...rarely do you see a Davison that fits a standard traditinal pattern.
I like both. I've had a couple Dowells, never a modern Davison (I did win a giveaway for a very early one) but would love to some day.