I'll give you the fact that Equilibrium has a better script. From what I remember, it actually aspired to tell a coherent, orginal story. It just didn't do it very well.

Also, it promised fights on motorcycles that it did not deliver. And the gun-fu (while a nice idea) was poorly executed. That scene with Bale standing stock still in a firefight was just silly: I buy that he can shoot at crazy angles, but not that he'd never need to dodge.