I prefer SMF, always have. (In fact, I prefer it over IPB and vBulletin, too - but that's another topic)

I suggest that you try out both softwares (they're easy enough to install) and see which you prefer.

Vote for phpBB (there's new version there phpBB3). It's totally free, has features such as temporary banned, new and fully integrated Anti-SPAM, Oracle, Firebird, MySQL, and SQLite support, and many new things. The most important I'm familiar with it

Like previous comments, try to install both, and compare it, which one you prefer.

-Malik

Personally I would recommend PHPBB over SMF due to the volume of mods and styles that are available for the script compared to SMF mods/styles.

Overall I would still have to say VBulletin all the way if you are looking for a paid script.

i prefer phpbb maybe coz i havent used SMF a lt but phpbb has surely got a large user base

I've used both of them and they're both good, it just depends on your preference really(or what you are used to). SMF didn't have nearly as many modifications as phpBB though, but that was a while ago. Things could have changed.

My vote would be for phpBB!

I used Phpbb for a long time. Great script. But i switched to SMF a while ago and have not looked back. It is a great app. But for you like was mentioned, try both and see which one suites you best. Their both great apps, and well written.

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I prefer phpbb ...

have been using it for years and the documentation and supports in the forum are good