Warmachine is "better" because the rules are better written. GW needs to both playtest better/more and hire a technical editor.
Past that, neither is actually better, it's purely down(IMO) to whether you prefer grimdark fantasy in space with battalion level forces or fantasy skirmishes with steampunk elements.
They're both fun(I've played 40K since the early 90's and Warmachine since its retail release in 2003), both have their fanatical super-fanbois that hate the other, but either is actually better than the other as it's very subjective.
As for more personalized, I suggest you guys take a look at the Stormhammer project on the PP boards:http://privateerpressforums.com/showthr ... ult-on-Sul
It's a fully converted Khador army made to look like it's a Cygnar force while still following the PP Steamroller conversion rules. Comes complete with its own fluff, renamed characters, and more well done conversions than I see in most 40K armies.
We're also going to have to just disagree on the "more in depth" thing with fluff, Jester. I'm very bored of GW's vague "this may or may not be what really happened" style of writing(they even said in White Dwarf that fluff in each Codex is written from that army's point of view, aside from Tyranids, and isn't 100% accurate or true) and devil may care attitude about canon and find the more personal point of view PP uses to be more filled out and interesting.