I've heard both, and there are tradeoffs with both. Of the two, the Shure is probably a bit more neutral, and the Grado reveals a bit more detail. But these differences are going to be fairly subtle unless you own a very high resolution system (which seems unlikely, given the price range of these cartridges.) My strong recommendation is to spend some extra money and get a Shure V15xMR, which will compete well with all but the most expensive moving coils. The last time I checked with a company called "Garage-a-Records" (they have a Web site), they were selling the Shure V15xMR for about $225 (the MSRP is $375).
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