I've owned and used both quite a bit. The ESEE Lite is a great machete, standard bush style blade. Like all micarta handles, if you are using it like a machete, it gets slick with sweat and grime. But the hook on the end, really lets you grip and rip, even when its gunked up.
I've had 3 sizes of the FBF, including one of the proto 12"s. Great blades, and Andy does the best handles in the biz, IMO. FBF is the only knives I collect for the sake of collecting, with one of his burlap bushcrafters being a solid user that I EDC quite often. The best size in his machete's, again, IMO, is the 18". Good size, good weight and good handle. BUT.... like
I said about micarta, I find it gets slick about about hour 2 of a good bushwacking session, sans the hook though. I use a lanyard to ensure safety. My ESEE, not so much.
The ESEE has a more blocked off handle, that feels just like a machete handle, with the FBF feeling more like a custom knife handle.
My recommendation, the ESEE Lite, if you are looking for something that feels, and acts more like a tradition machete would. FBF if you are gonna be using it for more "knife" type stuff.
Hope this helps ya out.
Moose